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wons and conditions relating to the use of auch installa- tions for the storage of oil and petroleum products; and for the establishment of a Standing Advisory Committer to advise the Building Authority on such matters relal- ing to oil storage installations as may be specifted in the regulations:"
eting subsection (4) and substituting the following
"(4) Regulations under this section may provide that a ntravention of any specified provision thereof shall be an jence and—
(a) In the case of a contravention of a regulation under subsection (1Xio), may provide penalties pot exceed- ing a fine of $100,000 and imprisonment for 2 years; (b) in any other case, may provide penalties not exceed- log & fine of $2,000 and imprisonment for 6
montba.".
he Hong Kong Legislative Council this 15th day of March,›
FONG KONG
No. 17 or 1978
[ assent
Clerk to the Legistative Council.
inted impression has been carefully compared by me ill and is found by me to be a true and correctly
Governor.
10th March, 1978.
I like
An Ordinance to restrict and impose financial requirements upon the
commçacement of certain insurance businesses.
[1st February, 1978)
Enacted by the Governor of Hong Kong, with the advice and consent
of the Legislative Council thereof.
1. This Ordinance may be cited as the Insurance Companies (Capital stort due and Requirements) Ordinance 1978 and shall be deemed to have come into compcecordedl operation on the 1st February 1978.
Interpretadon.
2 (1) In this Ordinance, unless the context otherwise required........ "company" means a company formed and registered under Part I of the
Companies Ordinance, a company registered under Part IX of the (cap. 32) Companies Ordinance or a company to which Part X1 of the Com- panies Ordinance applies;
"fire insurance business" means the issue of, or the undertaking of liability under, policies of insurance against loss by or incidental to fire but à policy shall not be deemed to be a policy of insurance against such loss by reason only that loss by fire is one of the various risks covered by the policy;
"life insurance business" includes the receipt. either directly or through an agent, of applications for policies of insurance on human life or