1030
No. 11 of 1907.
LIFE INSURANCE COMPANIES.
Ordinance No. 18 of 1934.
Ordinance No. 39 of 1932.
Deposit.
33 & 34 Vict. c. 61, s. 3.
Existing companies, before continuing business, must deposit, etc.
unincorporate, not being established under any Ordinance relating to friendly societies, which issues or is or becomes liable under policies of insurance upon human life within the Colony, or grants annuities upon human life within the Colony, or by any other means carries on the business of life insurance within the Colony; and shall include companies established out of Hong Kong as well as those established in Hong Kong, companies registered in Hong Kong which carry on the business of life insurance in China, and also mutual associations as well as proprietary;
(e) "Official Trustee" means the Official Trustee appointed under the Trustee Ordinance, 1934;
(f) "Policy" includes a contract for a policy for securing a life insurance, endowment or annuity;
(g) "Policy holder" means the legal holder of a policy for securing the life insurance, endowment, annuity or other contract with the company;
(h) "Registrar" means the Registrar of Companies under the Companies Ordinance, 1932.
PART I.
Conditions to be complied with by life insurance companies.
3. (1) Every company, wherever established, which shall begin to carry on the business of life insurance within the Colony, and every company registered in Hong Kong which shall begin to carry on the business of life insurance in China, shall deposit and keep deposited with the Registrar securities to be approved by the Governor in Council to the value of 50,000 dollars.
(2) Every company, wherever established, which before the passing of this Ordinance carried on the business of life insurance in Hong Kong, if it continues to carry on such business in Hong Kong, and every company registered in Hong Kong which before the passing of this Ordinance had carried on the business of life insurance in China, if it intends to carry on such business in the Colony or in China, shall deposit, within six months from the commencement of this Ordinance, and keep deposited with the Registrar securities approved as aforesaid to the value of 50,000 dollars:
† As amended by No. 13 of 1930 [17.10.30] and No. 16 of 1937 [24.9.37].
1030
No. 11 of 1907.
LIFE INSURANCE COMPANIES.
Ordinance No. 18 of 1934.
Ordinance No. 39 of 1932.
Deposit.
33 & 34 Vict. c. 61, s. 3.
+
Existing companies, before con-
tinuing bus
ness, must deposit, etc.
unincorporate, not being established under any Ordinance relating to friendly societies, which, issues or is or becomes liable under policies of insurance upon human life within the Colony, or grants annuities upon human life within the Colony, or by any other means carries on the business of life insurance within the Colony; and shall include companies established out of Hong Kong as well as those established in Hong Kong, companies registered in Hong Kong which carry on the business of life insurance in China, and also mutual associations as well as proprietary;
})
(e) "Official Trustee means the Official Trustee appointed under the Trustee Ordinance, 1934;
(f) "Policy" includes a contract for a policy for securing a life insurance, endowment or annuity;
(g) Policy holder" means the legal holder of a policy for securing the life insurance, endowinent, annuity or other contract with the company;
(h) “Registrar means the Registrar of Companies under the Companies Ordinance, 1932.
PART I.
Conditions to be complied with by life insurance companies.
3. (1) Every company, wherever established, which shall begin to carry on the business of life insurance within the Colony, and every company registered in Hong Kong which shall begin to carry on the business of life insurance in China, shall deposit and keep deposited with the Registrar securities to be approved by the Governor in Council to the value of 50,000 dollars.
(2) Every company, wherever established, which before the passing of this Ordinance carried on the business of life insurance in Hong Kong, if it continues to carry on such business in Hong Kong, and every company registered in Hong Kong which before the passing of this Ordinance had carried on the business of life insurance in China, if it intends to carry on such business in the Colony or in China, shall deposit, within six months from the commencement of this Ordinance, and keep deposited with the Registrar securities approved as aforesaid to the value of 50,000 dollars :
† As amended by No. 13 of 1930 [17.10.30] and No. 16 of 1937 [24.9.37].
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