### Insurance Ordinance 《保險業條例》

78. Exemptions for authorized insurers, etc.
(Amended 12 of 2015 s. 86)(1) Despite section 64G, an authorized insurer is not required to be a licensed insurance intermediary in order to—
(a) carry on any regulated activity; or
(b) hold out that it is carrying on any regulated activity. (Replaced 12 of 2015 s. 86)
(2) The exemption given under subsection (1) extends only to an authorized insurer and does not extend to its agent. (Amended 12 of 2015 s. 86)
(3) If a person holds out in Hong Kong—
(a) to carry on regulated activities specified in section 1(a) of Part 1 of Schedule 1A as an agent of a policy holder or potential policy holder for contracts of reinsurance only; or
(b) to carry on regulated activities specified in section 1(b), (c) and (d) of Part 1 of Schedule 1A for contracts of reinsurance only,
the person is not required to be a licensed insurance broker. (Replaced 12 of 2015 s. 86)
(3A) Subsection (3) does not apply to any of the following—
(a) a body corporate incorporated in Hong Kong;
(b) a body corporate incorporated elsewhere which has a place of business in Hong Kong or is represented in Hong Kong by an agent;
(c) any other person or a partnership having a place of business in Hong Kong. (Added 12 of 2015 s. 86)
(4)-(5) (Repealed 12 of 2015 s. 86)

### Insurance Ordinance 《保險業條例》

79. Power of Authority to grant exemptions
(1) A person may apply to the Authority for an exemption from any provision of this Part.
(2) An application for exemption must be accompanied by—
(a) a prescribed fee; and
(b) any information and documents that the Authority reasonably requires to enable it to consider the application.
(3) The Authority may, on receipt of an application for exemption—
(a) approve the application and grant the exemption; or
(b) reject the application.
(4) The Authority must give the person a notice in writing of the result of the application.
(5) In approving an application for exemption, the Authority—
(a) may limit the validity of the exemption to a specified period; and
(b) may impose any conditions that the Authority considers appropriate.
(6) The Authority may at any time by notice in writing—
(a) revoke an exemption; or
(b) revoke, vary, or add to, any condition subject to which an exemption is granted.
(7) If a condition imposed under this section in relation to an exemption is contravened—
(a) the exemption ceases to have effect; and 
(b) this Part applies to the person to whom the exemption was granted as if the exemption had not been granted.
(Added 12 of 2015 s. 87)

80. Interpretation
(1) In this Part—
controller (控權人) has the meaning given by section 64F;
misconduct (不當行為) means—(a) a contravention of a provision of this Ordinance;
(b) a contravention of a term or condition of a licence granted under this Ordinance;
(c) a contravention of any other condition imposed under a provision of this Ordinance; or
(d) an act or omission relating to the carrying on of any regulated activity which, in the Authority’s opinion, is or is likely to be prejudicial to the interests of policy holders or potential policy holders or the public interest,
and guilty of misconduct (犯不當行為) is to be construed accordingly;

regulated person (受規管人士) means—(a) a licensed insurance intermediary;
(b) a responsible officer of a licensed insurance agency;
(c) a responsible officer of a licensed insurance broker company;
(d) a person concerned in the management of the regulated activities carried on by a licensed insurance agency; or
(e) a person concerned in the management of the regulated activities carried on by a licensed insurance broker company.

(2) For the purposes of paragraph (d) of the definition of misconduct

### Insurance Ordinance 《保險業條例》

82. Procedural requirements in respect of exercise of powers under section 81
(1) The Authority must not exercise a power under section 81 without first giving the person in respect of whom the power is to be exercised a reasonable opportunity of being heard.
(2) If the Authority decides to exercise a power under section 81 in respect of a person, the Authority must inform the person of its decision to do so by notice in writing.
(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) in so far as applicable, the duration and terms of the revocation, suspension or prohibition to be imposed under the decision;
(d) in so far as applicable, the terms in which the person is to be reprimanded under the decision; and
(e) in so far as applicable, the amount of the pecuniary penalty to be imposed under the decision and the period within which it is required to be paid.
(4) The Authority must consult the Monetary Authority before exercising a power under section 81 in respect of—
(a) an authorized institution;
(b) a person who—
(i) is, or was, a regulated person; and
(ii) is, or was, employed by an authorized institution; or
(c) a person who—
(i) is, or was, a regulated person; and
(ii) is, or was, appointed as an agent by an authorized institution,
in relation to any regulated activity carried on by the institution.
(5) In subsection (1), a reference to an opportunity of being heard is a reference to an opportunity to make written representations or oral representations.

83. Guidelines for exercise of power to impose pecuniary penalty under section 81
(1) The Authority must not exercise a power under section 81 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.
(3) The Authority must consult the Monetary Authority before publishing any guideline under subsection (1).