A164
Ord. No. 34/88
(Cap. 50.)
Disclosure of information.
INSURANCE COMPANIES (AMENDMENT)
(b) with a view to the institution of, or otherwise for ne purposes of, any criminal proceedings or investiga- tion, whether under this Ordinance or otherwise, in Hong Kong;
(c) in connection with any civil proceedings arising out
of this Ordinance;
(d) by the Insurance Authority, in respect of any audi-
tor of an insurer, to--
(i) the Registrar;
(ii) the Council; or
(iii) the Disciplinary Committee,
under the Professional Accountants Ordinance in respect of any complaint to which section 34 of that Ordinance applies; or
(e) to the Financial Secretary, the Secretary for Mone- tary Affairs, any public officer authorized by the Financial Secretary for the purposes of this para- graph or the Disciplinary Committee referred to in paragraph (d) where, in the opinion of the Insurance Authority, it is desirable or expedient that the infor- mation should be so disclosed in the interests of existing or potential policy holders or in the public interest.
(4) Any person who contravenes subsection (1) com- mits an offence and is liable—
(a) on conviction upon indictment to a fine of $100,000 and, in the case of an individual, to imprisonment for 2 years; or
(b) on summary conviction to a fine of $50,000 and, in the case of an individual, to imprisonment for 6 months.
(5) This section shall apply to-
(a) companies which make application under section 7;
(b) associations of underwriters; and
(c) Lloyd's,
as it applies to insurers.
(6) For the purposes of this section, "function" includes a power and a duty.
53B. (1) Subject to subsection (2) and notwithstanding section 53A, the Insurance Authority may, if he considers that it is in the interests of existing or potential policy holders of an insurer, provide to the insurance supervisory authority of a place outside Hong Kong which is, in his opinion, subject to adequate secrecy provisions in that place, information on matters relating to the affairs of an insurer—
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