TNAG-1648-FCO40-2295-Financial-insurance-and-investment-companies-in-Hong-Kong-In-1987 — Page 31

HONG KONG

LEGAL REPORT

THE INSURANCE COMPANIES (AMENDMENT) (NO. 2) ORDINANCE 1987

(No. 41 of 1987)

Enclosure No. Z

This Ordinance amends the Insurance Companies Ordinance to -

(a)

(b)

2.

give the Insurance Authority a discretionary power to refuse an application by a company to be an authorized insurer on a ground other than the grounds specified in section 8(2) and (3) of the Insurance Companies Ordinance; and

provide for an appeal against a refusal made by the Insurance Authority in pursuance of his new discretionary power.

Before the Governor assented to the Bill in the name and on behalf of Her Majesty, the Attorney General advised that he could properly do so.

23

July 1987.

داسة البسال

ATTORNEY GENERAL'S CHAMBERS,

HONG KONG.

Law Draftsman.