### Insurance Ordinance 《保險業條例》

120. Restriction on use of certain terms and representations associated with insurance business
(1) Except as provided for in section 123, a person must not, without the written consent of the Authority given generally or in a particular case or class of cases, use any of the following in the description or name under which the person is carrying on business in or from Hong Kong—
(a) the word “insurance” or “assurance”, or a derivative of the word in English, or a translation of the word or derivative in any language;
(b) the Chinese expression “保險”, or the character “保” followed immediately by the character “險”;
(c) the letters “i”, “n”, “s”, “u”, “r”, “a”, “n”, “c” and “e” in that order;
(d) the letters “a”, “s”, “s”, “u”, “r”, “a”, “n”, “c” and “e” in that order.
(2) Subsection (1) does not apply to any of the following—
(a) an authorized insurer;
(b) an approved association of underwriters;
(c) a licensed insurance intermediary;
(d) a person to whom section 78(3) applies;
(e) an association that comprises mainly licensed insurance intermediaries or their employees, and that is formed for the protection or promotion of their mutual interests;
(f) an association of insurers or their employees that is formed for the protection or promotion of their mutual interests.
(3) A person who is not an authorized insurer must not, without the written consent of the Authority given generally or in a particular case or class of cases, make a representation in a bill head, letter paper, notice or advertisement, or in any other manner, that the person—
(a) is an authorized insurer; or
(b) is carrying on insurance business in or from Hong Kong.
(4) A person who contravenes subsection (1) or (3) commits an offence and is liable to a fine of $200,000 and, in the case of an individual, also to imprisonment for 2 years.
(5) In subsection (1)—
description (描述) includes a statement that may be construed to mean that a person (however described) is a subsidiary, the holding company, or a subsidiary of the holding company, of an authorized insurer, a licensed insurance agency or a licensed insurance broker company.

### Insurance Ordinance 《保險業條例》

122. Notification of cessation of place of business in Hong Kong
(1) If an authorized insurer incorporated or formed outside Hong Kong ceases to have a place of business in Hong Kong, the insurer must give not less than 3 months’ prior written notice, or a shorter prior notice that the Authority allows, to the Authority of the cessation.
(2) An authorized insurer which fails to comply with subsection (1) commits an offence and is liable—
(a) to a fine of $200,000 and, in the case of an individual, also to imprisonment for 2 years; and
(b) in the case of a continuing offence, to a further fine of $2,000 for each day during which the failure to give the notice continues after the expiry of the period prescribed or the shorter period allowed (as the case may be) under that subsection.

### Insurance Ordinance 《保險業條例》

124. Offences by bodies corporate and partners
(1) If an offence under this Ordinance is committed by a body corporate, and it is proved that the offence—
(a) was committed with the consent or connivance of a specified individual; or
(b) was attributable to any neglect or omission on the part of a specified individual,
the individual also commits the offence. (Amended 18 of 2020 s. 16)
(2) If a person who commits an offence under this Ordinance is a partner of a partnership, and it is proved that the offence—
(a) was committed with the consent or connivance of any other partner of the partnership; or
(b) was attributable to any neglect or omission on the part of any other partner of the partnership,
the other partner of the partnership also commits the offence.
(3) (Repealed 18 of 2020 s. 16)(4) An offence under this Ordinance committed by a body corporate is presumed to have been committed with the consent or connivance of, or to be attributable to neglect or omission on the part of, a specified individual if it is proved that, at the time the offence was committed, the individual was concerned in the management of the body corporate. (Amended 18 of 2020 s. 16)
(5) An offence under this Ordinance committed by a partner of a partnership is presumed to have been committed with the consent or connivance of, or to be attributable to neglect or omission on the part of, any other partner in the partnership if it is proved that, at the time the offence was committed, the other partner was concerned in the management of the partnership.
(6) The presumption under subsection (4) or (5) is rebutted by a person charged with an offence under this Ordinance by virtue of that subsection if—
(a) there is sufficient evidence to raise an issue that the offence was committed without the person’s consent or connivance and was not attributable to the person’s neglect or omission; and
(b) the contrary is not proved by the prosecution beyond reasonable doubt.
(7) In this section—
specified individual (指明個人), in relation to a body corporate, means an individual who is—(a) a controller, director, key person in control functions or responsible officer of the body corporate;
(b) a shareholder controller or chief executive of the body corporate (only if the body corporate is a designated insurance holding company); or
(c) a member of the body corporate (only if the body corporate is managed by its members). (Added 18 of 2020 s. 16)

### Insurance Ordinance 《保險業條例》

125. Time limit for proceedings for offences
Criminal proceedings for an offence under this Ordinance must be commenced within whichever of the following period expires first—
(a) the period of 3 years beginning on the date immediately after the date on which the offence is discovered by, or comes to the notice of, the Authority;
(b) the period of 6 years beginning on the date immediately after the offence is committed.

126. Prosecution of offences by Authority
(1) The Authority may prosecute an offence under this Ordinance, or an offence of conspiracy to commit such an offence, in its own name.
(2) However, if the Authority so prosecutes, the offence must be tried before a magistrate as an offence that is triable summarily.
(3) This section does not derogate from the powers of the Secretary for Justice in respect of the prosecution of criminal offences.