THE HONGKONG GOVERNMENT GAZETTE, JULY 19, 1907.
21. Every life insurance company not registered as Deed of aforesaid shall cause a sufficient number of copies of its settlement to
be printed. deed of settlement, or other the Act, Ordinance, charter or instrument constituting and regulating the mode of business Ib. s. 13. of such life insurance company, to be printed, and shall furnish, on application, to every shareholder and policy holder of the life insurance company, a copy of such deed of settlement, Act, Ordinance, charter or instrument, on payment of a sum not exceeding one dollar and twenty- five cents.
22. Any printed or other documents required by this Documents Ordinance to be kept by the Registrar of Companies may, may be on payment of such fees as the Registrar of Companies inspected. may direct, be inspected by any person, who may also, on Ib. s. 16. payment of such fees as shall be directed, obtain copies thereof,
evidence.
23. Every statement abstract or other document Documents deposited with the Registrar of Companies shall be re- to be ceivable in evidence, and every document purporting to be received in certified by the Registrar of Companies to be such de- Ib. s. 17. posited document, and every document purporting to be similarly certified to be a copy of such deposited document, shall, if produced out of the custody of the Registrar of Companies, be deemed to be such deposited document as aforesaid or a copy thereof, and shall be received in evidence as if it were the original document, unless some variation between it and the original document shall be proved.
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24. Any life insurance company registered under The Other cir- Companies Ordinance 1865," may be wound up by the cumstances. Court, in accordance with the provisions of that Ordinance under which
Company on the application of one or more policy holders or share may be holders, upon its being proved to the satisfaction of the wound up by Court that the actual funds of such life insurance company the Court. are not of a net cash value equal to its liabilities, counting Ib. s. 21. (as such) the net value of its policies according to the combined experience" or Actuaries" rate of mortality, with interest at four per centum per annum ; but the Court shall not give a hearing to the petition until security for costs, for such amount as the Judge shall think reasonable, shall be given, and until a primâ facie case shall also be esta- blished to the satisfaction of the Judge; and in the case of a proprietary life insurance company having an uncalled capital of an amount sufficient, with the future premiums receivable by the life insurance company, to make up the actual invested assets equal to the amount of the estimated liabilities, the Court shall suspend further proceedings on the petition for a reasonable time (in the discretion of the Court), to enable the uncalled capital or a sufficient part thereof to be called up; and if,ut the end of the original or any extended time for which the proceedings shall have been suspended, such amount shall not have been realised by means of calls as with the already-invested assets to be equal to the liabilities, an order shall be made on the petition as if the life insurance company had been proved insol-
vent.
25. The Court, in the case of a life insurance company Power of registered as aforesaid which has been proved to be insol- Court to vent as aforesaid, may, if it thinks fit, reduce the amount reduce con- of the contracts of the life insurance company upon such tracts, terms and subject to such conditions as the Court thinks Ib. s. 22. just, in place of making a winding-up order.
26. Auy notice which is by this Ordinance required Notices 10 be sent to any policy holder may be addressed under this
Ordinance to and sent to the person to whom notices respecting such
policy holder. policy are usually sent; and any notice so addressed and 1, s. 23. sent shall be deemed and taken to be notice to the holder of such policy.
laid before
27. There shall be laid annually before the Legislative Statements. Council the statements and abstracts of reports deposited &, to be with the Registrar of Companies under this Ordinance during Legislative the preceding year, although the Registrar of Companies Council. may be of opinion that they are not such statements or 1b, 8, 24. abstracts as are required to be prepared by this Ordinance.
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