1969-HKRS29-8-36_Part03 — Page 47

(CAD) 1350)

Application

of this Part.

Authorized insurers.

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"authorized insurer" means an insurance company for the time being authorized under section 34C to undertake accident insurance business for pur- poses of this Part:

"bank" means a bank which holds a valid licence

granted under the Banking Ordinance; "bond" means a bond given under subsection (1) of

section 34E:

"insurer", in relation to an employer, means an authorized insurer who is for the time being his insurer under this Part;

"prescribed employment" means any employment

prescribed under subsection (1) of section 34B: "surety”, in relation to an employer, means a person. who undertakes to satisfy the liability of the employer under a bond.

34B. (1) This Part shall apply to such employ- ments as the Governor in Council may by notice in the Gazerre prescribe.

(2) Notwithstanding section 4, this Part shall not apply to any employment by or under the Crown.

340. (1) The Authority may, by notice in the Gazette, authorize any insurance company to carry on accident insurance business in the Colony for the purposes of this Part subject to such conditions as may be prescribed.

(2) The Authority shall not grant authorization under subsection (1) unless the Authority is satisfied as to the financial stability of the insurance company.

(3) Where the Authority ceases to be satisfied as to the financial stability of any authorized insurer, or where an authorized insurer fails to comply with any condition prescribed under subsection (1), the Authority may, by notice in the Guzerte, revoke such authorization.

(4) Any insurance company which carries on accident insurance business for the purposes of this Part without authorization under subsection (1) shall be guilty of an offence and shall be liable on convic tion to a fine of one hundred dollars in respect of each workman insured by it

Compulsory insurance aguinst employer's liability.

Giving and enforcement of bond.

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34D. (1) Subject to subsection (1) of section 34E. no employer shall employ any workman in any prescribed employment unless there is in force in relation to such workman a policy of insurance issued by an authorized insurer for the full amount of the liability of the employer under this Ordinance and independently of this Ordinance for any injury to such workman by accident arising out of and in the course of his employment.

(2) Where an employer employs workmen in any prescribed employment, the Commissioner may require the employer to produce for inspection by the Commissioner any policy of insurance effected for purposes of subsection (1) or a cover note in respect of such policy of insurance.

(3) Any employer who contravenes subsection (1) or fails without reasonable excuse to comply with any requirement under subsection (2) shall be guilty of an offence and shall be liable on conviction for a first offence to a fine of two thousand dollars and to imprisonment for three months and on conviction for a second or subsequent offence to a fine of five thousand dollars and to imprisonment for six months.

34E. (1) Notwithstanding subsection (1) of sec- tion 34D, the Authority may, if satisfied that a bond, in such sum of money and containing such conditions as may seem fit to the Authority, entered into by an employer with sufficient sureties offers adequate security for the liability of the employer for the purposes of subsection (1) of section 34D, direct that such bood be given and that, so long as it shall con- dinue in force, it shall stand in lieu of a policy of insurance required under subsection (1) of section 34D.

(2) A bond given under subsection (1) shall be made in favour of the Commissioner and shall be deposited with the Commissioner.

(3) Where a band is given under subsection (1) in relation to a workman and the employer fails to pay to the workman any compensation agreed upon or any compensation or damages adjudged by the Court to be paid by the employer, the Commissioner shall, subject to section 34G, enforce the band in relation to the workman, and the bond, if given to satisfy the liability of the employer to other work-