1975.
2
year of the company expiring within 12 mooths preceding the date of the production of evidence, shall be exempt from the provisions of sections 3. 9 to 13,
15 and 16,
(2) A company entitled to exemption under subsection (1) shall deposit with the Registrar a signed copy of every audited return, statement and other document deposited by it with the Secretary of State pursuant to the Insurance Companies Act 1974, and duly signed as required by the Act. within 12 months after the close of the financial year to which the audited return, statement and other document relates.
(2A) A company shall cease to be exempt under sub- section (1) if-
(a) in the case of a company to which subsection (1)a) applies, it ceases to comply with the loşur- ance Companies Act 1974; or
(b) in the case of a company to which subsection
(1)(b) applics-
(0) it ceases to be authorized to carry on in Great Britain the business of life insurance under the Insurance Companies Act 1974; or
(0) it fails to deposit with the Secretary of State audited returns of its business, with respect to any financial year of the company, within 12 months after the close of that financial year, or
(c) it fails to comply with subsection (2).
(28) Subsection (1) shall not apply to a company that has been required by the Secretary of State to restrict its business or to limit its premium income pursuant to the Insurance Companies Act 1974.".
Passed by the Hong Kong Legislative Council this 23rd day of October,
I assent.
M
Governor,
M. Scha
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 correctly printed copy of the said bill.
интел
Clerk to the Legislarive Council.
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