### Motor Vehicles Insurance (Third Party Risks) Ordinance 《汽車保險(第三者風險)條例》

5. Provisions regarding deposits under section 4
The following provisions shall apply in relation to any deposit made under section 4(4)(c)— (Amended 21 of 1968 s. 4)
(a) a deposit may be made in cash or in securities approved by the Director of Accounting Services (hereinafter referred to as approved securities), or partly in cash and partly in approved securities and the value of securities shall be taken as the market value on the day of deposit;
(b) when approved securities are deposited the depositor shall, if so required by the Director of Accounting Services, take, at or before the time they are so deposited, such steps as the Director of Accounting Services may require to vest the same in the Director of Accounting Services; (Amended L.N. 162 of 1993)
(c) the Director of Accounting Services may permit the substitution of other approved securities for those previously deposited or the substitution of cash for approved securities, or vice versa, and may where he considers that the approved securities have fallen below their value at the time of the deposit, require the depositor to deposit the difference in value in further approved securities or cash;
(d) the Director of Accounting Services shall return the deposit to the depositor by repaying to him any cash deposited or retransferring to him any securities, as the case may be, if—
(i) the depositor has in writing requested the Director of Accounting Services to return the deposit; or
(ii) an order is made by the Governor in Council under paragraph (c) of section 4(4) specifying the depositor for the purposes of that paragraph; (Replaced 46 of 1985 s. 3)
(e) subject to the provisions of paragraph (f), the deposit shall be deemed to form part of the assets of the depositor and the interest or dividends accruing due in respect thereof shall be payable to the depositor;
(f) no part of the deposit shall, so long as any liabilities, being such liabilities as are required to be covered by a policy of insurance under this Ordinance, which have been incurred by the depositor, have not been discharged or otherwise provided for, be applicable in discharge of any other liabilities incurred by the depositor.
(Amended L.N. 16 of 1977)

### Motor Vehicles Insurance (Third Party Risks) Ordinance 《汽車保險(第三者風險)條例》

6. Requirements in respect of policies
(1) In order to comply with the requirements of this Ordinance,
a policy of insurance must be a policy which—
(a) is issued by an authorized insurer; and
(b) insures such person, persons or classes of persons as may be specified in the policy in respect of any liability which may be incurred by him or them in respect of the death of or bodily injury to any person caused by or arising out of the use of the motor vehicle on a road and arising out of one event for an amount not less than that as may be prescribed: (Amended 46 of 1995 s. 4)
Provided that such a policy shall not be required to cover—
(i) liability in respect of the death arising out of and in the course of his employment of a person in the employment of a person insured by the policy or of bodily injury sustained by such a person arising out of and in the course of his employment; or
(ii) (Repealed 22 of 1976 s. 3)(iii) any contractual liability.

(1A) For the avoidance of doubt, the liability covered by a policy required by subsection (1) may be inclusive of the liability for interest, costs and expenses indemnified under the policy and other costs and expenses incurred by the insured and recoverable from the insurer under the policy. (Added 46 of 1995 s. 4)
(2) Notwithstanding anything in any law, a person issuing a policy of insurance under this section shall be liable to indemnify the persons or classes of persons specified in the policy in respect of any liability which the policy purports to cover in the case of those persons or classes of persons.
(3) A policy shall be of no effect for the purposes of this Ordinance unless and until there is issued by the insurer in favour of the person by whom the policy is effected a certificate (in this Ordinance referred to as a certificate of insurance) in the prescribed form and containing such particulars of any conditions subject to which the policy is issued and of any other matters as may be prescribed, and different forms and different particulars may be prescribed in relation to different cases or circumstances.
[cf. 1930 c. 43 s. 36 U.K.]

### Motor Vehicles Insurance (Third Party Risks) Ordinance 《汽車保險(第三者風險)條例》

9. Certain conditions to policies or securities to be of no effect
Any condition in a policy or security issued or given for the purposes of this Ordinance, providing that no liability shall arise under the policy or security, or that any liability so arising shall cease, in the event of some specified thing being done or omitted to be done after the happening of the event giving rise to a claim under the policy or security, shall be of no effect in connection with such claims as are mentioned in section 6(1)(b):
Provided that nothing in this section shall be taken to render void any provisions in a policy or security requiring the person insured or secured to repay to the insurer or the giver of the security any sums which the latter may have become liable to pay under the policy or security and which have been applied to the satisfaction of the claims of third parties.[cf. 1930 c. 43 s. 38 U.K.]

### Motor Vehicles Insurance (Third Party Risks) Ordinance 《汽車保險(第三者風險)條例》

11. Bankruptcy, etc., of insured persons not to affect certain claims by third parties
Where a certificate of insurance has been issued under section 6(3) in favour of the person by whom a policy has been effected, the happening in relation to any person insured by the policy of any such event as is mentioned in section 2(1) or (2) of the Third Parties (Rights against Insurers) Ordinance (Cap. 273) shall, notwithstanding anything in that Ordinance, not affect any such liability of that person as is required to be covered by a policy under section 6(1)(b), but nothing in this section shall affect any rights against the insurer conferred by that Ordinance on the person to whom the liability was incurred.
[cf. 1934 c. 50 s. 11 U.K.]