ཙཱཡཀྑུརཧནྟྭཱསདབ
From gistrar General
CONFIDENTIAL
MEMO
100/1
D
To Secretary for the Civil Service
Ref.
(3)
in.
RG 154/28 IV
Tel. No.
5-3672800
Your Ref.
in..
Date
22nd December 1989
dated
C.S.B.
CONED
No
بیه باد
ECISTRY
Recruitment of Commissioner for Insurance
PMFIVED
INWARD
ONZONE.
As you know, Government will seek to create a new Office of the Commissioner for Insurance (OCI) with effect from 1.4.90 in the 1990-91 Estimates.
2.
The new Office will take over from the Registrar General the regulatory functions of the Insurance Division of the Registrar General's Department and all the statutory powers and functions of the Insurance Authority under the Insurance Companies Ordinance.
3.
Although the OCI will be staffed initially only for the prudential supervision of the Insurance Industry, it is Government's intention that at a future date the Commissioner for Insurance will also become responsible for the proposed regulation of private retirement schemes (as a separate Authority).
4.
To head the OCI, a post of Commissioner for Insurance is proposed. The additional responsibilities to be assumed by this post call for its upgrading, and it is proposed to be ranked at D4 on the Directorate Pay Scale, to be offset by the deletion of the post of Insurance Officer (D3) in the Registrar General's Department.
5.
It has all along been my intention that the present head of my Insurance Division, Mr. D.W.K. Sullivan, should be promoted to become the head of the new Commission. This is eminently justified on the grounds that the creation of the OCI is a natural progression form, and development of, the present Insurance Division, and Mr. Sullivan uniquely possesses (a) the qualifications, (b) the directly relevant experience, and (c) the abilities, required for the new post of Commissioner for Insurance.
6.
It is most unlikely that any advertisement of the Commissioner's post would bring forward a more suitable candidate, and I am therefore seeking your approval to dispense with advertising the post both outside and within the Civil Service. I recommend that Mr. D.W.K. Sullivan be appointed on promotion as the new Commissioner for Insurance, subject to the creation of the post.
G.F. 73A
CONFIDENTIAL