### Insurance Ordinance 《保險業條例》

72. Licensed insurance broker company must appoint auditor
(Replaced 12 of 2015 s. 80)(1) A licensed insurance broker company must, within 1 month after being granted a licence under section 64ZA, appoint as its auditor— (Amended 12 of 2015 s. 80)
(a) a person who is not prohibited under section 20AAZZR of the Accounting and Financial Reporting Council Ordinance (Cap. 588) from holding any appointment as an auditor of a company and is not disqualified under section 393 of the Companies Ordinance (Cap. 622); or (Amended 28 of 2012 ss. 912 & 920; L.N. 66 of 2022)
(b) for a licensed insurance broker company incorporated outside Hong Kong, a person— (Amended 12 of 2015 s. 80)
(i) who may lawfully practise as an auditor in the place of its incorporation; and
(ii) who holds a qualification that the Authority accepts as being of a standard comparable to that of a person referred to in paragraph (a).
(2) (Repealed 12 of 2015 s. 80)(3) A licensed insurance broker company must within 1 month from appointing an auditor under subsection (1) serve on the Authority a notice in writing of the appointment and the name and qualifications of the auditor appointed. (Amended 12 of 2015 s. 80)
(4) If the appointment of an auditor ends, the licensed insurance broker company must within 1 month from the ending of the appointment— (Amended 12 of 2015 s. 80)
(a) appoint a new auditor; and
(b) serve notice on the Authority of the ending and new appointment.
(5) A licensed insurance broker company which contravenes this section commits an offence and is liable to a fine at level 3, and in the case of a continuing offence, to a further fine of $500 for each day during which the offence continues. (Added 12 of 2015 s. 80)
(Amended 12 of 2015 s. 2)

### Insurance Ordinance 《保險業條例》

73. Audit of licensed insurance broker company
(1) A licensed insurance broker company must, within 6 months after the end of each financial year, provide the Authority with all of the following—
(a) a copy of the audited profit and loss account for that year;
(b) a copy of the audited income and expenditure account for that year;
(c) a copy of the audited balance sheet as at the end of that year;
(d) an auditor’s report on the financial statements;
(e) an auditor’s report stating whether the auditor is of the opinion that the company has continued to comply with rules made under section 129 that set out the requirements—
(i) in relation to the capital and net assets of a licensed insurance broker company;
(ii) in relation to the professional indemnity insurance taken out by a licensed insurance broker company;
(iii) in relation to the keeping of separate client accounts by a licensed insurance broker company; and
(iv) in relation to the keeping of proper books and accounts by a licensed insurance broker company;
(f) any other information that is prescribed by rules made under section 129.
(2) A licensed insurance broker company which contravenes this section commits an offence and is liable to a fine at level 6, and in the case of a continuing offence, to a further fine of $500 for each day during which the offence continues.
(Replaced 12 of 2015 s. 81)

### Insurance Ordinance 《保險業條例》

74. Powers of Authority to require production, etc.
(Amended 12 of 2015 s. 2)(1) The Authority—
(a) may require an authorized insurer or a licensed insurance intermediary to produce, at the time and place that the Authority specifies, the books or papers that it specifies for obtaining information in relation to a regulated activity carried on by a licensed insurance intermediary; and
(b) may authorize a person, on producing (if required to do so) evidence of the person’s authority, to require an authorized insurer or a licensed insurance intermediary to produce to the person, at the time and place that the person specifies, the books or papers that the person specifies for obtaining information in relation to a regulated activity carried on by a licensed insurance intermediary. (Replaced 12 of 2015 s. 82)
(2) Where the Authority or a person authorized by the Authority has power to require the production of any books or papers from an authorized insurer or a licensed insurance intermediary, the Authority or the authorized person shall have the same power to require production of those books or papers from any person who appears to the Authority or the authorized person to be in possession of them. (Amended 12 of 2015 ss. 2 & 82)
(3) A power to require an authorized insurer or a licensed insurance intermediary or other person to produce books or papers shall include power— (Amended 12 of 2015 s. 82)
(a) if the books or papers are produced—
(i) to take copies of them or extracts from them; and
(ii) to require the person, or any other person who is a present or past director, controller, auditor or actuary of, or is or was at any time employed by, the authorized insurer or the licensed insurance intermediary in question, to provide an explanation of any of them; (Amended 12 of 2015 s. 82)
(b) if the books or papers are not produced, to require the person who was required to produce them to state, to the best of his knowledge and belief, where they are.
(4) (Repealed 12 of 2015 s. 82)(5) (Repealed 28 of 2012 ss. 912 & 920)(6) A person who fails to produce books or papers required under this section commits an offence and is liable to a fine at level 6, and in the case of a continuing offence, to a further fine of $500 for each day during which the offence continues. (Added 12 of 2015 s. 82)

### Insurance Ordinance 《保險業條例》

76. Authority may petition for winding up or bankruptcy of licensed insurance intermediary
(1) The Authority may present a petition for a licensed insurance intermediary, other than a licensed insurance intermediary which is an authorized institution, to be wound up in accordance with the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) if—
(a) the intermediary is a company which may be wound up by the Court of First Instance under that Ordinance; and
(b) the Authority considers that it is in the public interest that the intermediary should be wound up.
(2) However, the Authority may not present a petition under subsection (1) for a licensed insurance intermediary to be wound up if the intermediary is already being wound up by the Court of First Instance.
(3) The Authority may present a petition for any of the following persons to be declared bankrupt if the Authority considers that it is in the public interest that the person should be made bankrupt—
(a) an individual who is a licensed insurance intermediary;
(b) any of the partners of a partnership which is a licensed insurance intermediary.
(Replaced 12 of 2015 s. 84)