### Insurance Ordinance 《保險業條例》

95G. Waiver or reduction of prescribed fees
(1) The Authority may, by a written notice served on a designated insurance holding company, waive or reduce a fee that is or will be payable under section 95F(1)(b) by the company if it appears to the Authority that—
(a) the designation of the company is likely to be withdrawn under section 95E(1) or (3); and
(b) the withdrawal is likely to take effect after the fee becomes payable, and before the next fee becomes payable under section 95F(1)(b), by the company.
(2) If it no longer appears to the Authority that a withdrawal is likely to be made and take effect as mentioned in subsection (1), the Authority may, by a written notice served on the designated insurance holding company—
(a) revoke a waiver or reduction under subsection (1) that applies to a fee payable by the company; and
(b) if the Authority considers it appropriate—specify a date by which the fee must be paid by the company in place of the payment due date prescribed for the fee.

95H. Maintaining arrangements with holding company
(1) A designated insurance holding company that has a holding company must maintain with its holding company any arrangements specified by the Authority under subsection (2).
(2) The Authority may specify the arrangements that a designated insurance holding company must maintain with any of its holding companies for ensuring that the designated insurance holding company is able to, through procuring the taking of any necessary steps by its holding company, comply with—
(a) this Part;
(b) a notice or requirement given or imposed under this Part; or
(c) a condition imposed under this Part.
(3) The Authority may—
(a) amend an arrangement specified under subsection (2); or
(b) revoke a specification made under subsection (2).
(4) The power under subsection (2) or (3) is only exercisable by a written notice served on the designated insurance holding company.
(5) Before specifying or amending an arrangement under subsection (2) or (3)(a), the Authority must give the designated insurance holding company an opportunity to make written or oral representations as to why the arrangement should not be specified or amended.
(6) If representations are made under subsection (5), the Authority must take them into account before specifying or amending the arrangement.
(7) If an arrangement is specified or amended under subsection (2) or (3)(a), the notice under subsection (4) must include a statement of the reasons for specifying or amending the arrangement.
(8) A specification, amendment or revocation made under subsection (2) or (3) takes effect at the later of the following—
(a) the time when the notice under subsection (4) is served on the designated insurance holding company;
(b) the time specified in the notice.

### Insurance Ordinance 《保險業條例》

95I. Prohibition against becoming shareholder controller without approval
(1) A person must not become a shareholder controller of a designated insurance holding company unless the person is approved under section 95M to be a shareholder controller of the company.
(2) A person who intends to become a shareholder controller of a designated insurance holding company may apply in accordance with subsection (3) for an approval under section 95M for the person to be a shareholder controller of the company.
(3) An application under subsection (2) must—
(a) be made in writing;
(b) be in the specified form;
(c) be served on the Authority; and
(d) contain—
(i) the particulars of the designated insurance holding company to which the application relates;
(ii) the particulars of the person who seeks to be approved to be a shareholder controller of the company (applicant

95J. Person becoming shareholder controller with approval
(1) This section applies if a person becomes a shareholder controller of a designated insurance holding company with an approval under section 95M.
(2) The person must, within 14 days after becoming a shareholder controller of the designated insurance holding company, notify the Authority of that fact in accordance with subsection (3).
(3) A notice under subsection (2) must—
(a) be given in writing;
(b) be in the specified form;
(c) be served on the Authority; and
(d) contain—
(i) the particulars of the designated insurance holding company to which the notice relates;
(ii) the particulars of the person who is approved to be, and has become, a shareholder controller of the company; and
(iii) any other information specified in the specified form.
(4) A person who contravenes subsection (2) commits an offence and is liable—
(a) on conviction on indictment—to a fine of $200,000 and to imprisonment for 2 years; or
(b) on summary conviction—to a fine at level 5 and to imprisonment for 6 months,
and in the case of a continuing offence—to a further fine of $2,000 for every day during which the offence continues.

### Insurance Ordinance 《保險業條例》

95K. Person becoming unapproved shareholder controller without notice
(1) This section applies if—
(a) a person becomes a shareholder controller of a designated insurance holding company in contravention of section 95I(1);
(b) the person did not know that the acts or circumstances as a result of which the person became such a shareholder controller were such as to have that effect; and
(c) the person subsequently becomes aware of the fact that the person has become such a shareholder controller.
(2) The person must, within 14 days after becoming aware of the fact that the person has become a shareholder controller of the designated insurance holding company, apply in accordance with subsection (3) for an approval under section 95M for the person to be a shareholder controller of the company.
(3) An application under subsection (2) must—
(a) be made in writing;
(b) be in the specified form;
(c) be served on the Authority; and
(d) contain—
(i) the particulars of the designated insurance holding company to which the application relates;
(ii) the particulars of the person who seeks to be approved to be a shareholder controller of the company (applicant

95L. Pre-existing shareholder controller
(1) This section applies if a person is a shareholder controller of a designated insurance holding company as at the beginning of the date of designation (pre-existing shareholder controller

95M. Approval of shareholder controller
(1) The Authority may, on an application made under section 95I(2), 95K(2) or 95L(5) by a person (applicant

95N. Objection to being shareholder controller
(1) This section applies in relation to a person approved under section 95M to be a shareholder controller of a designated insurance holding company.
(2) For subsection (1), it does not matter whether the approval is—
(a) given on an application made under section 95I(2), 95K(2) or 95L(5); or
(b) taken to be given by virtue of section 95L(2).
(3) The Authority may, by a written notice served on a person, object to the person being a shareholder controller of a designated insurance holding company if it appears to the Authority that—
(a) the person is not, or is no longer, a fit and proper person to be a shareholder controller of the company; or
(b) the person has contravened a condition imposed under section 95Z on the approval.
(4) A notice under subsection (3) (notice of objection