### Insurance Ordinance 《保險業條例》

12. Conditions for authorization under section 8 or 8A
(Replaced 12 of 2015 s. 22. Amended 17 of 2020 s. 10)(1) Where any authorization is granted subject to conditions imposed under section 8(1)(a) or 8A(1)(a), the Authority may, by serving a notice in writing on the authorized insurer concerned, amend or revoke a condition or impose a new condition that is reasonable in the circumstances. (Amended 12 of 2015 s. 22; 17 of 2020 s. 10)
(2) Any condition referred to in subsection (1) which was in effect immediately before the commencement of the Insurance Companies (Amendment) Ordinance 1988 (34 of 1988) shall continue to have effect until it is revoked under that subsection.
(3) If a condition referred to in subsection (1) is amended or revoked or a new condition is imposed, the Authority may direct that the register kept under section 5H be amended accordingly. (Replaced 12 of 2015 s. 22)
(Replaced 34 of 1988 s. 3)

13. Fee payable upon authorization and annually thereafter
(1) Every authorized insurer shall pay the prescribed fees to the Authority— (Amended 12 of 2015 s. 2)
(a) not later than the date on which it is authorized; and
(b) annually upon the anniversary of such date. (Replaced 50 of 1992 s. 2)
(2) Subsection (1) shall apply to an insurer deemed under section 61(1) of the pre-amended Ordinance having continuing effect by the operation of section 2(7) of Schedule 11 to be authorized under section 8 to carry on insurance business as if— (Amended 12 of 2015 s. 23)
(a) paragraph (a) were omitted; and
(b) in paragraph (b), for “such date” there were substituted “the date on which it was first authorized to carry on insurance business under any Ordinance repealed or amended by this Ordinance”.
(3) Where it appears to the Authority that an authorized insurer does not intend to effect any contracts of insurance after any anniversary referred to in subsection (1), the Authority may waive the payment of the fee payable by the insurer under that subsection in respect of that and any subsequent anniversary; but any such waiver may be revoked at any time by the Authority by notice in writing to the insurer, with effect from the date of such notice. (Amended 12 of 2015 s. 2)

### Insurance Ordinance 《保險業條例》

13AB. Restrictions on acting as controllers of authorized insurers in contravention of section 13A
(1) An individual appointed as a controller of an authorized insurer in contravention of section 13A(1) must not act or continue to act as such a controller.
(2) An individual appointed as a controller of an authorized insurer must not continue to act as such a controller after the date specified in the notice served on the individual under section 13A(7).
(3) An individual who contravenes subsection (1) or (2) commits an offence and is liable—
(a) to a fine of $200,000 and to imprisonment for 2 years; and
(b) in the case of a continuing offence, to a further fine of $2,000 for each day during which the offence continues.
(Added 12 of 2015 s. 25)

### Insurance Ordinance 《保險業條例》

13AD. Restrictions on acting as directors of authorized insurers in contravention of section 13AC
(1) A person appointed as a director of an authorized insurer in contravention of section 13AC(1) must not act or continue to act as such a director.
(2) A person appointed as a director of an authorized insurer must not continue to act as such a director after the date specified in the notice served on the person under section 13AC(7).
(3) A person who contravenes subsection (1) or (2) commits an offence and is liable—
(a) to a fine of $200,000 and, in the case of an individual, also to imprisonment for 2 years; and
(b) in the case of a continuing offence, to a further fine of $2,000 for each day during which the offence continues.
(Added 12 of 2015 s. 26)

### Insurance Ordinance 《保險業條例》

13AF. Authority may impose conditions on granting approval under sections 13A, 13AC and 13AE
(1) This section applies if the Authority approves the appointment of—
(a) an individual as a controller of an authorized insurer under section 13A;
(b) a person as a director of an authorized insurer under section 13AC; or
(c) an individual as a key person in control functions of an authorized insurer under section 13AE.
(2) The Authority may impose any conditions that it considers appropriate on the approval when granting the approval.
(3) The Authority may also impose any conditions that it considers appropriate on the approval after the Authority has granted the approval.
(4) The Authority may amend or revoke any conditions imposed under subsection (2) or (3).
(5) The power under subsection (2), (3) or (4) is only exercisable by notice in writing served on the authorized insurer and the individual or person.
(6) A notice under subsection (5) must, in the case of any conditions being imposed or amended, include a statement of reasons for imposing or amending the conditions.
(7) An imposition, amendment or revocation of any conditions under subsection (2), (3) or (4) takes effect at the time the notice under subsection (5) is served on the authorized insurer and the individual or person or at the time specified in the notice, whichever is the later.
(Added 12 of 2015 s. 26)

### Insurance Ordinance 《保險業條例》

13AG. Procedural requirements for rejecting application, or imposing or amending conditions
(1) The Authority must not—
(a) reject an application made under section 13A(2) for the approval of the appointment of an individual as a controller of an authorized insurer;
(b) impose a condition under section 13AF(2) or (3) on such an approval; or
(c) amend such a condition under section 13AF(4),
without giving the insurer and the individual an opportunity to make representations as to why the application should not be rejected or why the condition should not be imposed or amended.
(2) The Authority must not—
(a) reject an application made under section 13AC(2) for the approval of the appointment of a person as a director of an authorized insurer;
(b) impose a condition under section 13AF(2) or (3) on such an approval; or
(c) amend such a condition under section 13AF(4),
without giving the insurer and the person an opportunity to make representations as to why the application should not be rejected or why the condition should not be imposed or amended.
(3) The Authority must not—
(a) reject an application made under section 13AE(2) for the approval of the appointment of an individual as a key person in control functions of an authorized insurer;
(b) impose a condition under section 13AF(2) or (3) on such an approval; or
(c) amend such a condition under section 13AF(4),
without giving the insurer and the individual an opportunity to make representations as to why the application should not be rejected or why the condition should not be imposed or amended.
(4) In this section, a reference to an opportunity to make representations is a reference to an opportunity to make written representations or oral representations.
(Added 12 of 2015 s. 26)