### Insurance Ordinance 《保險業條例》

29. Maintenance of assets in Hong Kong
(1) The Authority may require that assets of an authorized insurer of a value which at any time is equal to the whole or a specified proportion of the amount of its domestic liabilities shall be maintained in Hong Kong, and, in imposing any such requirement, the Authority shall have regard to the insurer’s arrangements for the reinsurance of risks against which persons are insured by the insurer in the course of carrying on business.
(2) The Authority may direct that for the purposes of any requirement under this section assets of a specified class or description shall or shall not be treated as assets maintained in Hong Kong.
(3) The Authority may direct that for the purposes of any requirement under this section the domestic liabilities of an authorized insurer, or such liabilities of any class or description, shall be taken to be the net liabilities after deducting any part of them which is reinsured.
(4) A requirement imposed under this section may be framed so as to come into effect immediately after the day on which it is imposed or so as to come into effect after the expiration of a specified period (or such longer period as the Authority may allow).
(5) In this section any reference to a domestic liability of an authorized insurer is reference to a liability of the business carried on by the insurer in Hong Kong.
(6) Subject to subsection (7), in computing the amount of any liabilities for the purposes of this section all contingent and prospective liabilities shall be taken into account but not liabilities in respect of share capital.
(7) For the purposes of this section the value of any assets and the amount of any liabilities shall be determined in accordance with section 8(4); and subsection (6) shall have effect subject to that section. (Amended 25 of 1994 s. 12)
(Amended 12 of 2015 s. 2)

### Insurance Ordinance 《保險業條例》

30. Custody of assets
(1) The Authority may, in the case of an authorized insurer on which requirement has been imposed under section 29, impose an additional requirement that the whole or a specified proportion of the assets to which the requirement under that section applies shall be held by a person approved by the Authority for the purposes of the requirement under this section as trustee for the insurer.
(2) Section 29(4) shall apply also to a requirement under this section.
(3) Assets of an authorized insurer held by a person as trustee for an authorized insurer shall be taken to be held by such person in compliance with a requirement imposed under this section if, but only if, they are assets in whose case the insurer has given such person written notice that they are to be held by him in compliance with such a requirement or they are assets into which assets in whose case the insurer has given such person such written notice have, by any transaction or series of transactions, been transposed by him on the instructions of the insurer.
(4) No assets held by a person as trustee for an authorized insurer in compliance with a requirement imposed under this section shall, so long as the requirement is in force, be released except with the consent of the Authority.
(5) If a mortgage or charge is created by an authorized insurer at a time when there is in force a requirement imposed on the insurer by virtue of this section, being a mortgage or charge conferring a security on any assets which are held by a person as trustee for the insurer in compliance with the requirement, the mortgage or charge shall, to the extent that it confers such a security, be void against the liquidator and any creditor of the insurer.
(Amended 12 of 2015 s. 2)

31. Limitation of premium income
(1) The Authority may require an authorized insurer to take all such steps as are requisite to secure that the aggregate of the premiums— (Amended 12 of 2015 s. 2)
(a) to be received by the insurer in consideration of the undertaking by it during a specified period of liabilities in the course of carrying on general business or any specified part of such business; or
(b) to be received by it in a specified period in consideration of the undertaking by the insurer during that period of liabilities in the course of carrying on long term business or any specified part of such business,
shall not exceed a specified amount.
(2) A requirement under this section may apply either to the aggregate premiums to be received as mentioned in subsection (1) or to the aggregate of those premiums after deducting any premiums payable by the insurer for reinsuring the liabilities in consideration of which the first-mentioned premiums are receivable.

### Insurance Ordinance 《保險業條例》

32. Actuarial investigations
(1) The Authority may require an authorized insurer which carries on long term business— (Amended 12 of 2015 s. 2)
(a) to cause the person who for the time being is its actuary under section 15 to make an investigation into its financial condition (including a valuation of its liabilities) in respect of that business, or any specified part of that business, as at a specified date;
(b) to cause an abstract of that person’s report of the investigation to be made; and
(c) to prepare a statement of its long term business or of that part thereof as at that date.
(2) For the purposes of any investigation made in pursuance of a requirement under this section the value of any assets and the amount of any liabilities shall be determined in accordance with section 8(4). (Amended 25 of 1994 s. 13)
(3) The form and contents of any abstract or statement made in pursuance of a requirement under this section shall be the same as for an abstract or statement made under section 18.
(4) Two copies of any abstract or statement made in pursuance of a requirement under this section shall be deposited by the insurer with the Authority on or before such date as the Authority may specify, and 1 of those copies shall be a copy signed by the persons required to sign copies of abstracts or statements made under section 18 which are deposited under section 20. (Amended 12 of 2015 s. 2)

33. Acceleration of information required by accounting provisions
(1) The Authority may require any documents which under section 20 are required to be deposited with the Authority by an authorized insurer within the period specified in that section to be deposited with the Authority on or before a specified date before the end of that period, being a date not earlier than 3 months before the end of that period and not earlier than 1 month after the date on which the requirement is imposed.
(2) The Authority may require any statement which under section 19 is required to be furnished to the Authority by an authorized insurer within a period prescribed under that section to be furnished to the Authority on or before a specified date before the end of that period.
(Amended 12 of 2015 s. 2)