### Insurance Ordinance 《保險業條例》

95ZJ. Requirements in relation to major acquisition
(1) Subject to subsection (6), a designated insurance holding company must not make a major acquisition, or allow the making of a major acquisition by another member of the supervised group of the company, unless—
(a) the acquisition has been approved by the Authority under section 95ZK; or
(b) the acquisition has been assessed, through an assessment framework approved by the Authority under section 95ZM, as not material to the supervised group of the company.
(2) A designated insurance holding company may apply in accordance with subsection (3) for an approval under section 95ZK of a major acquisition.
(3) An application under subsection (2) must—
(a) be made in writing;
(b) be served on the Authority; and
(c) contain—
(i) the particulars of the major acquisition proposed to be made (proposed acquisition

95ZK. Approval of major acquisition
(1) The Authority may, on an application made under section 95ZJ(2) by a designated insurance holding company, approve the major acquisition specified in the application (proposed acquisition

95ZL. Assessment framework for major acquisition
(1) A designated insurance holding company may apply in accordance with subsection (2) for an approval under section 95ZM of an assessment framework.
(2) An application under subsection (1) must—
(a) be made in writing;
(b) be served on the Authority; and
(c) contain the particulars of the assessment framework.
(3) A designated insurance holding company that makes an application under subsection (1) must—
(a) pay a prescribed fee for the application; and
(b) provide to the Authority any information that the Authority reasonably requires to enable it to consider the application.

95ZM. Approval of assessment framework for major acquisition
(1) The Authority may, on an application made under section 95ZL(1) by a designated insurance holding company, approve the assessment framework specified in the application (proposed assessment framework

### Insurance Ordinance 《保險業條例》

95ZN. Conditions for exercising intervention powers
(1) A power under section 95ZO, 95ZP or 95ZQ is exercisable in relation to a designated insurance holding company only if the Authority is of the opinion that—
(a) the exercise of the power is desirable for the Authority’s carrying out any of its functions under this Part in relation to the company;
(b) the exercise of the power is desirable for mitigating or controlling the risks posed to, by or across the business of the supervised group of the company;
(c) the company has failed to comply with this Part; or
(d) the company has provided inaccurate information to the Authority for the purposes of this Part.
(2) A power under section 95ZR is exercisable in relation to a designated insurance holding company only if the Authority is of the opinion that—
(a) the exercise of the power is desirable for the Authority’s carrying out any of its functions under this Part in relation to the company; and
(b) the exercise of the powers under sections 95ZO, 95ZP and 95ZQ, or the exercise of those powers alone, would not be appropriate for the Authority’s carrying out that function.
(3) A power under section 95ZT is exercisable in relation to a designated insurance holding company only if—
(a) any of the following happens—
(i) the Authority is of the opinion, or is informed by the company, that the group capital requirements (as defined by section 95ZI(9)) for the supervised group of the company is not being, or is likely to be not, complied with;
(ii) an auditor’s report submitted under section 95ZH(1)(b) states that there is a significant doubt as to the ability of the company or its supervised group to continue as a going concern;
(iii) the Authority is of the opinion that the company or its supervised group is unable to meet the liabilities of the company or group; and
(b) the Authority is of the opinion that—
(i) there is no reasonable prospect of the company or its supervised group recovering from the situation concerning the company or group as mentioned in paragraph (a);
(ii) the measures taken by the company or its supervised group for the company or group to recover from such a situation have failed; or
(iii) any attempt to take the measures mentioned in subparagraph (ii) for the company or group to recover from such a situation is likely to fail or cannot be implemented within a reasonable time.

### Insurance Ordinance 《保險業條例》

95ZO. Power to require information and documents
(1) Subject to section 95ZN(1), the Authority may, by a written notice served on a designated insurance holding company, require the company to provide information or produce documents about any matter that relates to any member of its supervised group.
(2) The Authority may, in a notice under subsection (1), specify—
(a) the times or intervals at which the information or documents are to be provided or produced;
(b) the form in which the information or documents are to be prepared (including any verification or certification as may be required); and
(c) the way by which the information or documents are to be provided or produced.

95ZP. Power to require report
(1) Subject to section 95ZN(1), the Authority may—
(a) by a written notice served on a designated insurance holding company, require the company to, within the time specified in the notice, provide to the Authority a report in respect of any matter that relates to any member of its supervised group; or
(b) appoint a person to provide to the Authority a report in respect of any matter that relates to any member of the supervised group of a designated insurance holding company.
(2) The Authority may, in a notice under subsection (1)(a), specify—
(a) the form in which the report is to be prepared (including any verification or certification as may be required); and
(b) the way by which the report is to be provided.
(3) The Authority may appoint under subsection (1)(b) any person who appears to the Authority to possess the skills necessary for providing a report in respect of the matter concerned.
(4) If a person is appointed under subsection (1)(b) to provide a report in respect of a matter that relates to a member of the supervised group of a designated insurance holding company, the Authority—
(a) must, by a written notice served on the company, notify the company of the appointment; and
(b) may, in the notice, require the company to—
(i) if the matter relates to the company—provide to the person any assistance as reasonably required by the person; or
(ii) if the matter relates to another member—procure the provision by the member to the person any assistance as reasonably required by the person.
(5) A designated insurance holding company must—
(a) pay to a person appointed under subsection (1)(b) any fees reasonably charged by the person for providing a report in respect of a matter that relates to a member of its supervised group; and
(b) reimburse the Authority for—
(i) any such fees paid by the Authority; and
(ii) any incidental expenses incurred by the Authority in procuring the provision of such a report by the person.
(6) Any fees and expenses required to be paid or reimbursed under subsection (5) are recoverable as a civil debt.