【法规名称】
【法规编号】 82483 什么是编号？
【正 文】
第10页 CAP 41 INSURANCE COMPANIES ORDINANCE
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[接上页] (7) If a person is aggrieved by the decision of the Insurance Authority to serve a notice of objection on him, he may, within 1 month from the date on which the notice is served, appeal against the decision to the Financial Secretary whose decision shall be final. (8) No transaction relating to the acquisition of voting power in an insurer shall be void or voidable by reason only of a contravention of subsection (2). (9) Subject to subsection (10), any person who fails to comply with subsection (2) commits an offence and is liable to a fine of $200000 and, in the case of an individual, to imprisonment for 2 years. (Amended 35 of 1996 s. 7) (10) Where a person is charged with an offence under subsection (9), it shall be a defence to prove that he did not know that the acts or circumstances by virtue of which he became a controller of the insurer concerned were such as to have that effect. (11) Any person who fails to comply with subsection (3) commits an offence and is liable to a fine of $200000 and, in the case of an individual, to imprisonment for 2 years, together with a fine of $2000 for each day on which the offence continues. (Amended 35 of 1996 s. 7) (Added 44 of 1990 s. 3) Cap 41 s 13C Restrictions on and sale of shares where there has been a contravention of section 13B(2) Remarks: Adaptation amendments retroactively made - see 25 of 1998 s. 2 (1) The powers conferred by this section shall be exercisable where a person has become a controller of an insurer in contravention of section 13B(2) in that- (a) a notice in writing has been served under section 13B(2)(a) on the Insurance Authority by that person in respect of that insurer but none of the events specified in section 13B(2)(b) has occurred; (Amended 35 of 1996 s. 8) (b) no notice in writing has been served under section 13B(3) on the Insurance Authority by that person in respect of that contravention; (c) a notice in writing has been served under section 13B(3) on the Insurance Authority by that person in respect of that contravention, the Insurance Authority has served a notice of objection under section 13B(4) on that person in respect of that contravention, and either- (i) the period specified in section 13B(7) within which that person may appeal against the decision of the Insurance Authority to so serve such notice of objection has expired without any such appeal having been made; or (ii) an appeal under section 13B(7) by that person against the decision of the Insurance Authority to so serve such notice of objection is unsuccessful; or(d) that person has been convicted of an offence under section 13B(9) in respect of that contravention.(2) Subject to subsection (6), the Insurance Authority may by notice in writing served on the person concerned direct that any specified shares to which this section applies shall, until further notice, be subject to one or more of the following restrictions- (a) any transfer of those shares or, in the case of unissued shares, any transfer of the right to be issued with them, and any issue of such shares, shall be void; (b) no voting rights shall be exercisable in respect of the shares; (c) no further shares shall be issued in right of them or in pursuance of any offer made to their holder; (d) except in a liquidation, no payment shall be made of any sums due from the insurer on the shares, whether in respect of capital or otherwise.(3) Where shares are subject to the restrictions under subsection (2)(a), any agreement to transfer the shares or, in the case of unissued shares, the right to be issued with them, shall be void. (4) Where shares are subject to the restrictions under subsection (2)(c) or (d), an agreement to transfer any right to be issued with other shares in right of those shares, or to receive any payment on them (otherwise than in a liquidation) shall be void. (5) Subject to subsection (7), the Court of First Instance may, on the application of the Insurance Authority, order the sale of any specified shares to which this section applies and, if they are for the time being subject to any restrictions under subsection (2), that they shall cease to be subject to those restrictions. (Amended 25 of 1998 s. 2) (6) Where the Insurance Authority has, by virtue of subsection (1)(b), served a notice in writing under subsection (2) on the person concerned and- (a) that person has, not later than 14 days after the service of that notice, served a notice in writing under section 13B(3) on the Insurance Authority in respect of the contravention of section 13B(2) to which that first-mentioned notice relates; and (b) one of the following occurs- (i) the Insurance Authority has, before the expiration of 3 months from the date on which that notice under section 13B(3) has been served on him, notified that person in writing that there is no objection to his having become the controller, within the meaning of section 13B, to which that contravention relates; (ii) no preliminary notice of objection under section 13B(4) has been served by the Insurance Authority on that person in respect of that contravention within 3 months from the date on which the notice under section 13B(3) has been served on the Insurance Authority; |
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