THE HONGKONG GOVERNMENT GAZETTE, AUGUST 2, 1907.
PART II.
with
28. Every life insurance company which makes Penalty for default in complying with any of the requirements of this non- Ordinance, or of any rules made under this Ordinance, compliance where no other penalties are expressly provided, shall be Ordinance. liable to a penalty not exceeding fifty dollars for every 33 and 34 day during which the default continues ; and the chair- Vict. c. 61, man, agent, secretary or other principal officer of the s. 18. company shall be liable to such penalty as well as the company and in the case of a company registered in the Colony under the Companies Ordinance 1865 if default continue for a period of three months after notice of such default shall have been published in one or more news- papers as the Registrar may direct, the Court may order the winding-up of such company in accordance with the provisions of the Companies Ordinance 1865, upon the application of one or more policy holders or shareholders.
29.-(1.) Where the Registrar has reasonable cause to Procedure for believe that a company registered in Hongkong under the striking off
register name Companies Ordinance 1865 is carrying on the business of, of Company life insurance in China without having complied with the contravening requirements of this Ordinance he shall publish in the provisions of Gazette and send to the company a notice that at the Ordinance. expiration of three months from the date of that notice the name of the company mentioned therein will unless cause be shown to the contrary be struck off the register and the company will be dissolved,
(2.) At the expiration of the time mentioned in the notice the Registrar may, unless cause to the contrary is previously shown by the company, strike the name of the company off the register, and shall publish notice thereof in the Gazette, and on such publication the company
whose name is so struck off shall be dissolved: Provided that the liability, if any, of every director, managing officer, and member of the company shall continue and may be enforced as if the company had not been dissolved.
Or
(3.) If any company or member thereof feels aggrieved by the name of such company having been struck off the register in pursimmee of this section, the company member may apply to the Court, and the Court, if it be satisfied that it is just to do so, may order the unme of the company to be restored to the register and thereupon the company shall be deemed to have continued in existence as if the name thereof had never been struck off; and the Court may, by the order, give such directions and make such provisions as seem just for placing the company and all other persous in the same position, as uearly as may be, as if the name of the company had never been struck off.
(4.) A letter or notice authorized or required for the purposes of this section to be sent to a company may either be sent by post or be delivered by hand addressed to the company at its registered office, or, if no office hus been registered, addressed to the care of some director or officer of the company, or, if there is no director or officer of the company whose name and address are known to the Registrar, the letter or notice (in identical form) may be sent or delivered to each of the persons who subscribed the memorandum of association, addressed to him at the address mentioned in that memorandum.
(5.) In the execution of his duties under this section the Registrar shall conform to any regulations which may be from time to time made by the Governor-in-Council.
Sce.
Ib. s. 19.
30. If ally statement abstract OF other document Penalty for required by this Ordinance is false in any particular to the falsifying knowledge of any person who signs or deposits the same, statements, such person shall be liable, on conviction thereof on indiet- ment, to imprisonment, with or without hard labour for any term not exceeding two years or to a fine not exceed- ing $500 or to both or on summary conviction thereof to a penalty not exceeding five hundred dollars.
31. Where by this Ordinance any statement or abstract is required to be made or furnished by any life insurance company the Governor-in-Council may if he thinks fit direct that such statement or abstract shall be submitted to an independent actuary for investigation. The cost of such investigation shall be notified to the company by the Colonial Treasurer and shall be paid forthwith by the company to the Colonial Treasurer.
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