### Insurance Ordinance 《保險業條例》

95Z. Conditions on approval
(1) This section applies in relation to—
(a) an approval under section 95M for a person to be a shareholder controller of a designated insurance holding company; and
(b) an approval under section 95U of an appointment of a person as a chief executive, director or key person in control functions of a designated insurance holding company.
(2) For subsection (1)(a), 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) For subsection (1)(b), it does not matter whether the approval is—
(a) given on an application made under section 95S(2); or
(b) taken to be given by virtue of section 95T(2).
(4) The Authority may impose any condition that it considers appropriate on an approval mentioned in subsection (1) when—
(a) the approval is given; and
(b) at any time after approval is given or taken to be given.
(5) The Authority may amend or revoke any condition imposed under subsection (4).
(6) The power under subsection (4) or (5) is only exercisable by a written notice served on the affected person.
(7) Before imposing or amending a condition under subsection (4) or (5), the Authority must give the affected person an opportunity to make written or oral representations as to why the condition should not be imposed or amended.
(8) If representations are made under subsection (7), the Authority must take them into account before imposing or amending the condition.
(9) If a condition is imposed or amended under subsection (4) or (5), the notice under subsection (6) must include a statement of the reasons for imposing or amending the condition.
(10) The imposition, amendment or revocation of a condition under subsection (4) or (5) takes effect at the later of the following—
(a) the time when the notice under subsection (6) is served on the affected person;
(b) the time specified in the notice.
(11) In this section—
affected person (當事人) means—(a) for a condition on an approval under section 95M—the person mentioned in subsection (1)(a); or
(b) for a condition on an approval under section 95U—the person and the designated insurance holding company mentioned in subsection (1)(b).

### Insurance Ordinance 《保險業條例》

95ZA. Offences in relation to application for approval
(1) A person commits an offence if the person, in connection with an application for an approval under section 95M or 95U—
(a) makes a statement that is false or misleading in a material particular; and
(b) knows that, or is reckless as to whether, the statement is false or misleading in the material particular.
(2) A person commits an offence if the person, in connection with an application for an approval under section 95M or 95U—
(a) omits a material particular from a statement with the result that the statement is rendered false or misleading; and
(b) knows that, or is reckless as to whether, the material particular is omitted from the statement.
(3) A person who commits an offence under subsection (1) or (2) is liable on conviction to a fine at level 5 and to imprisonment for 6 months.

95ZB. Effect of application under section 95I in relation to section 13B
(1) This section applies if—
(a) on the one hand—
(i) a person will, as a result of certain acts or circumstances, become a shareholder controller of a designated insurance holding company; and
(ii) the person has made an application under section 95I(2) for an approval under section 95M for the person to be such a shareholder controller; and
(b) on the other hand—
(i) the person will also, as a result of the same acts or circumstances, become a controller (as defined by section 13B(1)) of an authorized insurer that is either the company itself or another member of its supervised group; and
(ii) the person is prohibited under section 13B(2) from becoming such a controller unless the conditions under that section are satisfied.
(2) If the application under section 95I(2) is approved, the conditions under section 13B(2) are taken as satisfied as follows—
(a) the person is taken to have served on the Authority a notice in accordance with section 13B(2)(a);
(b) the prescribed fee under section 13B(2)(ab) is taken to have been paid; and
(c) the Authority is taken to have, as described in section 13B(2)(b)(i), notified the person that there is no objection to the person’s becoming a controller of the authorized insurer.
(3) If the application under section 95I(2) is rejected, the Authority is taken to have served on the person a notice of objection under section 13B(4) objecting to the person’s becoming a controller of the authorized insurer when the written notice of the result of the application is given under section 95M(4).

### Insurance Ordinance 《保險業條例》

95ZC. Effect of application under section 95K in relation to section 13B
(1) This section applies if—
(a) on the one hand—
(i) a person has, as a result of certain acts or circumstances, become a shareholder controller of a designated insurance holding company in contravention of section 95I(1); and
(ii) the person falls within section 95K(1) so that the person is required to comply with section 95K(2); and
(b) on the other hand—
(i) the person has also, as a result of the same acts or circumstances, become a controller (as defined by section 13B(1)) of an authorized insurer that is either the company itself or another member of its supervised group in contravention of section 13B(2); and
(ii) the person falls within section 13B(3) so that person is required to comply with that section.
(2) The person is taken to have complied with section 13B(3) if the person complies with section 95K(2).
(3) If an application made under section 95K(2) is approved, the Authority is not entitled to serve a notice of objection under section 13B(4) on the person in respect of the contravention mentioned in subsection (1)(b)(i).
(4) If an application made under section 95K(2) is rejected, the Authority is taken to have served on the person a notice of objection under section 13B(4) objecting to the person’s being a controller of the authorized insurer when the written notice of the result of the application is given under section 95M(4).

95ZD. Effect of approval under section 95U in relation to sections 13A, 13AC and 13AE
(1) This section applies if a designated insurance holding company is also an authorized insurer.
(2) If the Authority gives an approval under section 95U of the appointment of a person as a chief executive, director or key person in control functions (specified officer