【法规名称】
【法规编号】 82483 什么是编号？
【正 文】
第4页 CAP 41 INSURANCE COMPANIES ORDINANCE
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[接上页] (a) a company authorized under section 8 to carry on that class of insurance business; (b) Lloyd's; (c) an association of underwriters approved by the Insurance Authority. (Amended 25 of 1994 s. 3)(2) Where an application for approval under subsection (1)(c) is made, the applicant shall furnish such information in respect thereof as the Insurance Authority may require. (Amended 25 of 1994 s. 3) (3) A person who contravenes subsection (1) commits an offence and is liable- (a) on conviction upon indictment to a fine of $2000000 and, in the case of an individual, to imprisonment for 2 years; and (b) on summary conviction to a fine of $200000 and, in the case of an individual, to imprisonment for 6 months,together with, in either case, a fine of $2000 for each day on which the offence continues. (Amended 35 of 1996 s. 3) Cap 41 s 6A Contracts of insurance entered into in contravention of section 6(1) (1) Where a contract of insurance in relation to any class of insurance business (not being reinsurance business) is entered into by an insurer in contravention of section 6(1), the contract shall, at the option of the policy holder, be either- (a) enforceable against the insurer by the policy holder, and notwithstanding that contravention; or (b) void by reason of that contravention.(2) A policy holder who in pursuance of subsection (1)(b) opts to void a contract of insurance before the expiration of the contract shall be entitled to recover any consideration paid by him under the contract. (3) Where a contract of insurance in relation to any class of insurance business (being reinsurance business) is entered into by an insurer in contravention of section 6(1), the contract shall not be void or voidable by reason only of that contravention. (4) This section shall not apply to a contract of insurance entered into before the commencement of the Insurance Companies (Amendment) Ordinance 1990 (44 of 1990). (Added 44 of 1990 s. 2) Cap 41 s 7 Application for authorization to carry on insurance business (1) Any company may make application in writing to the Insurance Authority for authorization to carry on any class of insurance business. (2) The applicant shall furnish such information in such form as the Insurance Authority may require for the purpose of determining the application together with the particulars specified in the Second Schedule relating to every director or controller of the applicant. Cap 41 s 8 Authorization (1) Upon application made by a company under section 7, the Insurance Authority- (a) subject to paragraph (b), may authorize the company in writing to carry on, subject to such conditions as he may impose, any class or classes of insurance business; or (b) (i) shall refuse the application if subsection (2) or (3) applies; or (ii) may refuse the application on any other ground whether or not the application has been refused on a ground under subparagraph (i). (Replaced 41 of 1987 s. 2)(2) The Insurance Authority shall not authorize a company under this section if it appears to the Insurance Authority that any person who is a director or controller of the company is not a fit and proper person to hold the position held by him. (3) The Insurance Authority shall not authorize a company under this section unless the following conditions are satisfied- (a) that, at the date of the application, the value of the assets of the company is not less than- (i) in the case of a company carrying on or intending to carry on general business only, the aggregate of the amount of its liabilities and the relevant amount within the meaning of section 10; (ii) in the case of a company carrying on or intending to carry on long term business only, the greater of the following- (A) the aggregate of the amount of its liabilities and the relevant amount within the meaning of section 10; or (B) the aggregate of the amount of its liabilities and such amount as may be prescribed by or determined in accordance with regulations made under section 59(1)(aa); (Amended 29 of 1997 s. 3)(iii) in the case of a company carrying on or intending to carry on both general business and long term business, the aggregate of the amount which, if section 10(1) applied, would be the relevant amount in the case of the company having regard only to its general business and the greater of the following- (A) the aggregate of- (I) the amount of its liabilities; and (II) if any part of the long term business carried on or intended to be carried on is of a nature other than that specified in class G or H in Part 2 of the First Schedule, $2000000 or its equivalent; or(B) the aggregate of the amount of its liabilities and such amount as may be prescribed by or determined in accordance with regulations made under section 59(1)(aa); and (Replaced 25 of 1994 s. 4. Amended 29 of 1997 s. 3)*(b) that in the case of a company having a share capital, the aggregate of the amount paid up thereof and the amount of any subordinated loan stock of the company and the amount paid up in respect of any redeemable preference shares of the company is not less than- |
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