1975-HKRS28-16-23_Part04 — Page 6

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year of the company expiring within 12 months preceding the date of the production of evidence, shall be exempt from the provisions of sections 4 to 6.

(2) Aq insurance company entitled to exemption under subsection (1) shall deposit with the Registrar of Companies a signed copy of every audited return, statement and other document deposited by it with the Secretary of Stale pursu to the Insurance Companies Act 1974, and duly signed as required by the Act, within 12 months after the close of the fancial year to which the audited return, statement and other document relates.

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(2A) Ao insurance company shall cease to be exempt under subsection (1)

(a) in the case of a company to which subsection, (Mo) applies, it ceases to comply with the Insurance) Companies Act 1974; or -

(8) in the case of a company to which subsection

(1KB) applies—

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(i) it ceases to be authorized to carry on in' Great Britain fire and marine insurance business; under the Insurance Companies Act 1974; or

(ii) it fails to deposit with the Secretary of State audited returns of its business with respect to any financial year of the insurance company, within 12 months after the close of that finarictal year; or (c) it fails to comply with subsection (2).

(28) Subsection (1) shall not apply to an insurance company that has been required by the Secretary of Stalo to restrict its business or to limit its premium income pur. suant to the Insurance Companies Act 1974.".

Passed by the Hong Kong Legislative Council this 23rd day of October, 1975.

INDL OF OU 1972

I assent.

M2, Radha

Govertor,

24th October, 1975.

Clerk to the Legislative Council,

This printed impression has been carefully compared by me with the bill, and is found by me to be a true and correcthu printed copy of the said bilI.

Clerk to the Legislative Council.