1988 Ed.]
Insurance Companies
Section
[CAP. 41
1
CHAPTER 41
INSURANCE COMPANIES ORDINANCE
ARRANGEMENT OF SECTIONS
PART I
PRELIMINARY
Page
1.
2.
3.
Short title
Interpretation
Classes of insurance business.........
4
6
4.
Insurance Authority
5.
Register of insurers...........
6
PART II
AUTHORIZATION
6.
Restriction on carrying on of insurance business
7
7.
Application for authorization to carry on insurance business..
8.
Authorization.....
8
9.
Meaning of "controller" in section 8(2)...
9
10.
Meaning of "relevant amount" in section 8(3)
10
11.
Appeal against refusal of authorization under section 8(2)
12
12.
Conditions imposed under section 8 may be revoked
12
13.
Fee payable upon authorization and annually thereafter.
12
14.
Notification of change in particulars, and objection to appointment of new director or controller
13
PART III
ACCOUNTS AND STATEMENTS
14
15.
Appointment of auditor and actuary..
16.
Keeping and preserving of proper books of account.
15
16
17.
Submission of financial information..........
18.
19.
Periodic actuarial investigation of insurer with long term business Statements of transactions of prescribed class or description......
16
17
17
20.
Deposit of accounts etc. with Insurance Authority ....
21.
Documents to be deposited with Registrar of Companies..
18
PART IV
LONG TERM BUSINESS
22.
Separation of assets and liabilities attributable to long term business.
18
22A.
Foreign insurers may be authorized to maintain an account in relation to their Hong Kong business...
19
23.
Application of assets of insurer with long term business
20
24.
Sanction of High Court for transfer of long term business......
20
25. Provisions supplementary to section 24............
21