### Insurance Ordinance 《保險業條例》

6. Restriction on carrying on of insurance business
(1) No person shall carry on any class of insurance business in or from Hong Kong except—
(a) a company authorized under section 8 or 8A to carry on that class of insurance business; (Amended 17 of 2020 s. 6)
(b) Lloyd’s;
(c) an association of underwriters approved by the Authority. (Amended 25 of 1994 s. 3)
(2) Where an application for approval under subsection (1)(c) is made, the applicant shall furnish such information in respect thereof as the Authority may require. (Amended 25 of 1994 s. 3)
(3) A person who contravenes subsection (1) commits an offence and is liable—
(a) on conviction upon indictment to a fine of $2,000,000 and, in the case of an individual, to imprisonment for 2 years; and
(b) on summary conviction to a fine of $200,000 and, in the case of an individual, to imprisonment for 6 months,
together with, in either case, a fine of $2,000 for each day on which the offence continues. (Amended 35 of 1996 s. 3)
(Amended 12 of 2015 s. 2)

6A. Contracts of insurance entered into in contravention of section 6(1)
(1) Where a contract of insurance in relation to any class of insurance business (not being reinsurance business) is entered into by an insurer in contravention of section 6(1), the contract shall, at the option of the policy holder, be either—
(a) enforceable against the insurer by the policy holder, and notwithstanding that contravention; or
(b) void by reason of that contravention.
(2) A policy holder who in pursuance of subsection (1)(b) opts to void a contract of insurance before the expiration of the contract shall be entitled to recover any consideration paid by him under the contract.
(3) Where a contract of insurance in relation to any class of insurance business (being reinsurance business) is entered into by an insurer in contravention of section 6(1), the contract shall not be void or voidable by reason only of that contravention.
(4) This section shall not apply to a contract of insurance entered into before the commencement of the Insurance Companies (Amendment) Ordinance 1990 (44 of 1990).
(Added 44 of 1990 s. 2)

### Insurance Ordinance 《保險業條例》

7. Application for authorization to carry on insurance business
(1) Any company may make application in writing to the Authority for authorization to carry on any class of insurance business.
(2) The applicant shall furnish such information in such form as the Authority may require for the purpose of determining the application together with the particulars specified in Schedule 2 relating to every director or controller of the applicant. (Amended 12 of 2015 s. 17)
(Amended 12 of 2015 s. 2 )

### Insurance Ordinance 《保險業條例》

8A. Authorization—special purpose business
(1) On application made by a company under section 7 for authorization to carry on special purpose business—
(a) subject to paragraph (b), the Authority may authorize the company in writing to carry on, subject to such conditions as the Authority may impose, special purpose business; or
(b) the Authority—
(i) must refuse the application if subsection (2) applies; and
(ii) may refuse the application on any other ground.
(2) The Authority must not authorize a company under this section unless the following conditions are satisfied—
(a) the company has appointed 2 or more directors all of whom appear to the Authority to be fit and proper persons to hold the positions;
(b) the company has appointed an administrator as a controller who appears to the Authority to be a fit and proper person to hold the position;
(c) the company complies with the relevant financial, solvency, investor’s sophistication and other requirements prescribed by rules made under section 129 or 129A;
(d) the company intends to carry on special purpose business only but not any other class of insurance business.
(3) For the purposes of subsection (2)(a) and (b), if the Authority considers that a person is not a fit and proper person to hold the relevant position, the Authority must notify the company in writing of the fact and the reason for that opinion.
(4) In this section—
administrator (管理人), in relation to a company, means an individual who (alone or jointly with others) is responsible for the administration of the whole business of the company.
(Added 17 of 2020 s. 8)

8B. Form of information submitted by special purpose insurers
The Authority may specify the form in which a special purpose insurer submits information to the Authority under this Ordinance.
(Added 17 of 2020 s. 8)

8C. Requirements under section 17, 20 or 21 may be modified or varied for special purpose insurers
The Authority may modify or vary any requirement under section 17, 20 or 21 in relation to a special purpose insurer for the period and in the ways as the Authority considers appropriate.
(Added 17 of 2020 s. 8)

### Insurance Ordinance 《保險業條例》

10. Meaning of relevant amount

11. Notification of refusal of authorization under section 8 or 8A
(Amended 12 of 2015 s. 21; 17 of 2020 s. 9)(1) Where the Authority refuses to authorize a company under section 8 on the ground (or, if more than one, on grounds which include the ground) that any person as mentioned in subsection (2) of that section is not a fit and proper person to hold the position held by him, the Authority shall notify the company in writing of that fact and the name of the person whose fitness is in question. (Amended 12 of 2015 s. 2)
(2) Where notice of a refusal is given to a company under subsection (1), a copy thereof shall at the same time be sent by registered post to the person whose fitness is in question. (Amended 41 of 1987 s. 3; 12 of 2015 s. 21)
(3) Where the Authority refuses to authorize a company under section 8(1)(b)(ii) or 8A(1)(b)(ii), the Authority must notify the company in writing of that refusal. (Added 41 of 1987 s. 3. Amended 12 of 2015 s. 2; 17 of 2020 s. 9)
(4) (Repealed 12 of 2015 s. 21)