### Insurance Ordinance 《保險業條例》

95ZZO. Removal of records and documents under section 95ZZN
(1) A record or document removed under section 95ZZN(2) may be retained—
(a) for a period not exceeding 6 months beginning on the date of its removal; or
(b) for a longer period that may be required because of any criminal proceedings, or any proceedings under this Ordinance.
(2) If an authorized person removes a record or document under section 95ZZN(2), the authorized person must, as soon as practicable after the removal, give a receipt for the record or document.

95ZZP. Lien claimed on records or documents
If the person in possession of a record or document required to be produced under section 95ZZE or 95ZZG claims a lien on the record or document—
(a) the requirement to produce the record or document is not affected by the lien;
(b) no fee is payable for the production; and
(c) the production is without prejudice to the lien.

95ZZQ. Production of information in information systems etc.
If any information or matter contained in a record or document required to be produced under section 95ZZE or 95ZZG is recorded otherwise than in a legible form, a power to require the production of the record or document includes the power to require the production of a reproduction of the recording of the information or matter or of the relevant part of it—
(a) if the recording enables the information or matter to be reproduced in a legible form—in a legible form; and
(b) if the information or matter is recorded in an information system—in a form which enables the information or matter to be reproduced in a legible form.

95ZZR. Inspection of records or documents seized etc.
(1) If a specified person has taken possession of a record or document under this Division, the specified person must permit a person who would be entitled to inspect the record or document had the specified person not taken possession of it, to inspect it and to make copies or otherwise record details of it at all reasonable times.
(2) The permission is subject to any reasonable conditions the specified person imposes.
(3) In this section—
specified person (指明人士) means—(a) an authorized person within the meaning of section 95ZZN; or
(b) an investigator.

### Insurance Ordinance 《保險業條例》

95ZZS. Disciplinary action in respect of designated insurance holding companies
(1) The Authority may exercise any of the powers specified in subsection (2) in respect of a designated insurance holding company if—
(a) the company is guilty of misconduct;
(b) the company was guilty of misconduct; or
(c) the Authority is of the opinion that—
(i) a person who is a shareholder controller of the company, or who holds the position of a chief executive, director or key person in control functions of the company, is not a fit and proper person to be such a controller or hold that position; or
(ii) a person who was a shareholder controller of the company, or who held the position of a chief executive, director or key person in control functions of the company, was not a fit and proper person to be such a controller or hold that position.
(2) The following powers are specified for subsection (1)—
(a) to reprimand the designated insurance holding company publicly or privately;
(b) to order the designated insurance holding company to pay a pecuniary penalty not exceeding the amount which is the greater of—
(i) $10,000,000; or
(ii) 3 times the amount of the profit gained or loss avoided by the company as a result of—
(A) the misconduct of the company; or
(B) the conduct of the shareholder controller, chief executive, director or key person in control functions of the company that leads the Authority to form the opinion referred to in subsection (1)(c) in relation to that shareholder controller, chief executive, director or key person in control functions.
(3) If the Authority has exercised its power under subsection (1), it may disclose to the public details of its decision, the reasons for which the decision was made, and any material facts relating to the case.
(4) The Authority, in forming an opinion for subsection (1)(c), may, among other matters (including those specified in section 95Y), take into account the present or past conduct of the person.
(5) In this section—
misconduct (不當行為) means—(a) a contravention of this Part; or
(b) a contravention of a condition imposed under this Part,
and guilty of misconduct (犯不當行為) is to be construed accordingly.

### Insurance Ordinance 《保險業條例》

95ZZT. Procedural requirements in respect of exercise of powers under section 95ZZS
(1) The Authority must not exercise a power under section 95ZZS without first giving the designated insurance holding company in respect of which the power is to be exercised a reasonable opportunity to—
(a) make written representations to the Authority; and
(b) if the company so requests, make oral representations to a person appointed for that purpose by the Authority.
(2) If the Authority decides to exercise a power under section 95ZZS in respect of a designated insurance holding company, the Authority must inform the company of the decision by a written notice.
(3) The notice must include—
(a) a statement of the reasons for the decision;
(b) the time when the decision is to take effect;
(c) if applicable, the terms in which the designated insurance holding company is to be reprimanded under the decision; and
(d) if applicable, the amount of the pecuniary penalty to be imposed under the decision and the period within which it is required to be paid.

95ZZU. Guidelines for exercise of power to impose pecuniary penalty under section 95ZZS
(1) The Authority must not exercise a power under section 95ZZS to impose a pecuniary penalty unless—
(a) it has published, in the Gazette and in any other manner it considers appropriate, guidelines to indicate the way in which it proposes to exercise that power; and
(b) in exercising that power, it has had regard to the guidelines so published.
(2) The guidelines are not subsidiary legislation.

95ZZV. General provisions relating to exercise of disciplinary powers
(1) At any time when the Authority is contemplating exercising a power under section 95ZZS in respect of a designated insurance holding company, the Authority may, if it considers it appropriate to do so in the interests of policy holders or potential policy holders of the supervised group or the public interest, by agreement with the company—
(a) exercise a power that the Authority may exercise in respect of the company under section 95ZZS; and
(b) take an additional action that the Authority considers appropriate in the circumstances of the case.
(2) If the Authority exercises a power or takes an additional action under subsection (1), it must comply with section 95ZZT as if that section applied to the power or action, unless the company agrees otherwise.
(3) In reaching a decision under this Subdivision, the Authority may have regard to any information or material in its possession that is relevant to the decision, regardless of how the information or material has come into its possession.