### Insurance Ordinance 《保險業條例》

95ZZA. Interpretation of Part XIA, Division 9
In this Division—
Cap. 32 (《第32章》) means the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32);
winding up (清盤) means winding up in accordance with Cap. 32.

95ZZB. Winding up on petition by Authority or others
(1) This section applies if a designated insurance holding company is a company that may be wound up by the Court of First Instance under Cap. 32.
(2) The Authority may present a petition for the winding up of a designated insurance holding company on the ground that—
(a) the company is unable to pay its debts within the meaning of sections 177 and 178 or section 327 of Cap. 32; or
(b) the company has failed to satisfy an obligation to which it is or was subject by virtue of this Part.
(3) In any proceedings on a petition presented under subsection (2) for the winding up of a designated insurance holding company, evidence that the company was insolvent—
(a) at the end of the period to which the specified financial statements of the financial reporting member for its supervised group that were last deposited under section 95ZH(3) relate; or
(b) on any date or at any time specified in a requirement imposed under section 95ZO,
is, unless the contrary is proved, evidence that the company continues to be unable to pay its debts.
(4) The Authority may also present a petition for the winding up of a designated insurance holding company if—
(a) it appears to the Authority that it is expedient to the interests of the policy holders of the supervised group of the company that the company should be wound up; and
(b) the company is not already being wound up by the Court of First Instance.
(5) On a petition presented under subsection (4) for the winding up of a designated insurance holding company, the Court of First Instance may wind up the company if the Court thinks it just and equitable for the company to be wound up by the Court.
(6) If a petition for the winding up of a designated insurance holding company is presented by a person other than the Authority—
(a) a copy of the petition must be served on the Authority; and
(b) the Authority is entitled—
(i) to be heard on the petition;
(ii) to call, examine and cross-examine any witness; and
(iii) if the Authority considers it appropriate, to support or oppose the making of a winding-up order.

### Insurance Ordinance 《保險業條例》

95ZZC. Voluntary winding up
(1) A designated insurance holding company may be wound up voluntarily only if permitted by an order of the Court of First Instance.
(2) An order may be made under this section only if notice of the application for the order has been served on the Authority.
(3) In relation to an application for an order under this section, the Authority is entitled—
(a) to be heard on the application;
(b) to call, examine and cross-examine any witness; and
(c) if the Authority considers it appropriate, to support or oppose the making of the order.

### Insurance Ordinance 《保險業條例》

95ZZI. Application to Court of First Instance for inquiry into failure
(1) If a person fails to comply with a requirement imposed by an inspector under section 95ZZE or 95ZZF or an investigator under section 95ZZG or 95ZZH, the inspector or investigator may apply by originating summons to the Court of First Instance for an inquiry into the failure.
(2) On an application under subsection (1), the Court of First Instance—
(a) on being satisfied that there is no reasonable excuse for the person not to comply with the requirement, may order the person to comply with the requirement within the time specified by the Court; and
(b) on being satisfied that the failure was without reasonable excuse, may punish the person, and any other person knowingly involved in the failure, in the same manner as if the person and that other person had been guilty of contempt of court.
(3) An originating summons under subsection (1) is to be in Form No. 10 in Appendix A to the Rules of the High Court (Cap. 4 sub. leg. A).
(4) Despite anything in this Ordinance, no proceedings may be instituted against a person for subsection (2)(b) in respect of a conduct if—
(a) criminal proceedings have previously been instituted against the person under section 95ZZJ(1), (2), (3), (4) or (5) in respect of the same conduct; and
(b) those proceedings remain pending, or because of the previous institution of those proceedings, no criminal proceedings may again be lawfully instituted against that person under section 95ZZJ(1), (2), (3), (4) or (5) in respect of the same conduct.

### Insurance Ordinance 《保險業條例》

95ZZK. Use of incriminating evidence in proceedings
(1) If an investigator requires a person to give an answer to a question or to give an explanation or further particulars under this Division, the investigator must ensure that the person has first been informed of the effect of subsection (2).
(2) Despite anything in this Ordinance and subject to subsection (3)—
(a) if an investigator requires a person to give an answer to a question or to give an explanation or further particulars under this Division; and
(b) the answer, or the explanation or further particulars, might tend to incriminate the person and the person so claims before giving the answer or giving the explanation or further particulars,
the requirement and the question and answer, or the explanation or further particulars, are not admissible in evidence against the person in criminal proceedings in a court of law.
(3) Subsection (2) does not apply to criminal proceedings in which the person is, in relation to the answer, or the explanation or further particulars, charged with—
(a) an offence under section 95ZZJ(1), (2), (3), (4) or (5), or under Part V of the Crimes Ordinance (Cap. 200); or
(b) perjury.

95ZZL. Offences in relation to destruction of records and documents
(1) A person commits an offence if—
(a) the person destroys, falsifies, conceals or otherwise disposes of, or causes or permits the destruction, falsification, concealment or disposal of, a record or document that the person is required by an inspector or investigator to produce under section 95ZZE or 95ZZG; and
(b) the person does so with intent to conceal, from the inspector or investigator, facts or matters capable of being disclosed by the record or document.
(2) A person who commits an offence under subsection (1) is liable—
(a) on conviction on indictment—to a fine of $1,000,000 and to imprisonment for 2 years; or
(b) on summary conviction—to a fine at level 6 and to imprisonment for 6 months.

### Insurance Ordinance 《保險業條例》

95ZZM. Order to pay costs of investigation
(1) If a person is convicted by a court on a prosecution instituted as a result of the findings of an investigation under section 95ZZG—
(a) the court may order the person to pay to the Authority the whole or a part of the costs and expenses of the investigation; and
(b) the Authority may recover the whole or that part of the costs and expenses as a civil debt due to it.
(2) Subsection (3) applies if—
(a) the Authority receives an amount under an order made under subsection (1) in respect of any of the costs and expenses of an investigation; and
(b) all or any of the costs and expenses have already been paid out of moneys provided by the Legislative Council.
(3) The Authority must pay to the Financial Secretary the amount received under the order to the extent to which it has already been paid out of moneys provided by the Legislative Council.