1964_INSURANCE_COMPANIES_ORDINANCE — Page 40

1988 Ed.]

Insurance Companies

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(b) the insurer shall, within 1 month from the date of service of the notice, furnish to the Insurance Authority such information in such form as he may require, together with the particulars specified in the Second Schedule, relating to every person who, on that date, holds the position of director or controller of the insurer; and

(c) section 14 shall apply to such insurer, and any information so

furnished, as from that date.

(8) Any insurer which fails to comply with subsection (5) commits an offence and is liable to a fine of $10,000.

Power of Governor in Council to exempt insurer

53. (1) The Governor in Council may by order direct that, as respects any insurer specified in the order, such provisions of this Ordinance as may be so specified shall not apply to the insurer or shall apply to the insurer with such modifications or variations as may be so specified.

(2) An order made under this section may be subject to conditions and may be amended or revoked at any time by the Governor in Council.

(3) In this section "insurer" includes Lloyd's.

PART VIIIA

SECRECY, DISCLOSURE OF INFORMATION AND EXAMINATIONS BY OUTSIDE AUTHORITIES

Secrecy

53A. (1) Except in the exercise of any function under this Ordinance or for the carrying into effect of the provisions of this Ordinance, every person who has been appointed under or who is or has been employed in carrying out or in assisting any person to carry out the provisions of this Ordinance

(a) shall preserve and aid in preserving secrecy with regard to all matters relating to the affairs of any insurer that may come to his knowledge in the exercise of any function under this Ordinance;

(b) shall not communicate any such matter to any person other than the

person to whom such matter relates; and

(c) shall not suffer or permit any person to have access to any records in his possession, custody or control or in the possession, custody or control of any other person so appointed or employed.

(2) No person who receives information, in whatever form, submitted under section 6, 7, 14, 17, 18, 19, 20, 32, 33, 34, 50, 52 or 61(1)(a) shall be required to produce to any court any document containing such information or to divulge or communicate to any court any matter or thing coming under his notice in the exercise of his functions under this Ordinance, except in the course of-

(a) a prosecution for any offence;

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