### Insurance Ordinance 《保險業條例》

127. Service of notices, etc.
A written notice or direction or other document (however described) permitted or required to be issued or served (however described) to or on a person, other than the Authority or the Monetary Authority, for this Ordinance is to be regarded as duly issued or served if—
(a) for an individual, it is—
(i) delivered to the individual by hand;
(ii) left at, or sent by post to, the last known business or residential address of the individual;
(iii) sent by fax transmission to the last known fax number of the individual; or
(iv) sent by electronic mail transmission to the last known electronic mail address of the individual;
(b) for a company, it is—
(i) delivered to any officer of the company by hand;
(ii) left at, or sent by post to, the registered office of the company within the meaning of the Companies Ordinance (Cap. 622);
(iii) sent by fax transmission to the last known fax number of the company; or
(iv) sent by electronic mail transmission to the last known electronic mail address of the company;
(c) for a non-Hong Kong company, it is—
(i) delivered by hand to, or sent by post to, the person resident in Hong Kong who is authorized to accept service of process and notices on its behalf for the purposes of Part 16 of the Companies Ordinance (Cap. 622) at the person’s address delivered to the Registrar of Companies under that Ordinance;
(ii) sent by fax transmission to the last known fax number of the person; or
(iii) sent by electronic mail transmission to the last known electronic mail address of the person;
(d) for a partnership, it is—
(i) delivered to any partner of the partnership by hand;
(ii) left at, or sent by post to, the last known principal place of business of the partnership;
(iii) sent by fax transmission to the last known fax number of the partnership; or
(iv) sent by electronic mail transmission to the last known electronic mail address of the partnership;
(e) for Lloyd’s or a member of Lloyd’s, it is—
(i) delivered to the authorized representative of Lloyd’s appointed under section 50B by hand;
(ii) left at, or sent by post to, the address in Hong Kong of the authorized representative;
(iii) sent by fax transmission to the last known fax number of the authorized representative; or
(iv) sent by electronic mail transmission to the last known electronic mail address of the authorized representative.

### Insurance Ordinance 《保險業條例》

128. Chief Executive in Council may make regulations
(1) The Chief Executive in Council may, after consulting the Authority, by regulations—
(a) provide for the payment to the Authority of, and prescribe, fees—
(i) for an application to the Authority under this Ordinance;
(ii) for anything done by the Authority or a committee established under section 4C or 4D in performing a function under this Ordinance; and
(iii) for any other matter with regard to which provision is made by or under this Ordinance;
(b) prescribe fees (however described) that are required or permitted to be prescribed by regulations made under this section;
(c) provide for the payment of charges or penalties for late payment of any fees; and
(d) prescribe any matter that, by this Ordinance, is required or permitted to be prescribed by regulations made under this section.
(2) Fees prescribed by regulations made under this section is not to be limited by reference to the amount of the administrative or other costs incurred, or likely to be incurred, by the Authority or a committee established under section 4C or 4D in providing the services or performing the functions to which the fees relate.
(3) Regulations made under this section—
(a) may provide that the amount of any fee is to be fixed by reference to a scale set out in the regulations;
(b) may provide for the payment of different fees by or in relation to persons or cases of different classes or descriptions;
(c) may provide that the payment of any fee is waived, either generally or in a particular case; and
(d) may provide for the payment of fees annually or at other intervals.
(4) The Authority may recover the amount of any fees payable under the regulations made under this section as a civil debt due to it.
(5) Subsections (6) and (7) apply if—
(a) rules are made by the Authority under a provision in this Ordinance; and
(b) the provision does not specify that the rules may provide that a contravention of any specified provision of the rules constitutes an offence.
(6) The Chief Executive in Council may make regulations to prescribe offences for contravention of the rules, punishable by a fine, imprisonment or both.
(7) The maximum penalty that may be prescribed under subsection (6) is— (Amended 17 of 2020 s. 31)
(a) for an offence of which a person is convicted on indictment—a fine of $500,000 and imprisonment for 2 years; and
(b) for an offence of which a person is summarily convicted—a fine at level 6 and imprisonment for 6 months.

### Insurance Ordinance 《保險業條例》

129A. Authority may make rules for special purpose business
(1) The Authority may by rules—
(a) prohibit any sale of, or the making of any offer to sell, insurance-linked securities to any person other than an investor falling within a type prescribed in the rules; and
(b) prohibit any sale of, or the making of any offer to sell, insurance-linked securities at an amount lower than that prescribed in the rules.
(2) Rules made under this section may prescribe offences for contravention of the rules, punishable by a fine or imprisonment, or both.
(3) The maximum penalty that may be prescribed under subsection (2) is—
(a) for an offence of which a person is convicted on indictment—a fine of $200,000 and imprisonment for 2 years; and
(b) for an offence of which a person is summarily convicted—a fine at level 6 and imprisonment for 6 months.
(4) In this section—
insurance-linked securities (保險相連證券) means securities issued through insurance securitization.
(Added 17 of 2020 s. 20)

130. Relaxation of rules under section 129(1)(a)
(1) The Authority may, relax wholly or partly any of the rules made under section 129(1)(a) in their application to an authorized insurer for the period, and subject to the conditions, that the Authority considers appropriate, at the request in writing of that insurer, on being satisfied that—
(a) it would not be contrary to the interests of policy holders or potential policy holders to do so; and
(b) it would not adversely affect the Authority’s ability to carry out its supervisory functions under this Ordinance.
(2) During any period when the relaxation is in force, the reference in section 8(4) to rules made for this purpose is, as respects that insurer, to be construed as a reference to those rules as so relaxed.
(3) If under subsection (1) the Authority relaxes any of the rules made under section 129(1)(a) for an authorized insurer, the Authority must, as soon as practicable, publish a notice in the Gazette stating—
(a) the name of the insurer; and
(b) the fact that the rule has been relaxed under subsection (1) for that insurer.