HONG KONG LEGISLATIVE COUNCIL 22 February 1989
香港立法局————————一九八九年二月二十二日
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The second is the Road Traffic (Traffic Control) (Amendment) (No. 3) Regulations 1989. It provides that in any criminal proceedings against the owner of a private road in respect of an improper traffic sign or road marking placed on that road, the onus is on that owner to prove that the sign or marking is unauthorized and was placed on or after the commencement of the Road Traffic (Amendment) (No. 2) Ordinance 1988 without his permission. The purpose of this amendment is to give the Commissioner for Transport sufficient powers to require the owner of a private road to remove any improper traffic sign or road marking on that road.
Sir, I beg to move.
Question proposed, put and agreed to.
First Reading of Bill
INSURANCE COMPANIES (AMENDMENT) BILL 1989
Bill read the First time and ordered to be set down for Second Reading pursuant to Standing Order 41(3).
Second Reading of Bills
INSURANCE COMPANIES (AMENDMENT) BILL 1989
THE FINANCIAL SECRETARY moved the Second Reading of: "A Bill to amend the Insurance Companies Ordinance".
He said: Sir, I move that the Insurance Companies (Amendment) Bill 1989 be read a Second time.
The purpose of this Bill is to introduce a number of amendments to the Insurance Companies Ordinance in order to update certain provisions and to improve the administration of the Ordinance. The main provisions of the Bill deal with the definition of controller, minimum solvency margin requirements, frequency of actuarial reports and grounds for exercising powers of intervention.
Section 8(1) of the principal Ordinance requires that a controller of a company applying for authorization to carry on insurance business must be a fit and proper person to hold such a position. Section 9(1) defines a controller, in part, to be a person who is able to exercise control, either directly or indirectly,
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