Insurance Ordinance

(1)
In determining whether a person is a fit and proper person for the purposes of
sections 8
,
8A
,
13A
,
13AC
,
13AE
,
13B
,
13BA
,
14
,
15AAAB
and
15AABA
,
                the Authority must have regard to the following
matters—
(Amended
17 of 2020 s. 14
;
20 of 2023 s. 22
)
(a)
the education or other qualifications or experience of the
                    person;
(b)
the person’s ability to act competently, honestly and fairly;
(c)
the reputation, character, reliability and integrity of the
                    person;
(d)
the person’s financial status or solvency;
(e)
whether any disciplinary action has been taken against the person
by—
(i)
the Monetary Authority;
(ii)
the Securities and Futures Commission;
(iii)
the Mandatory Provident Fund Schemes Authority; or
(iv)
any
                        other authority or regulatory organization,
                        whether
                        in Hong Kong or elsewhere, which, in the Authority’s opinion, performs a
                        function similar to those of the Authority;
(f)
if the person is a
                    body
                    corporate
                    in a group of companies, any information in the possession of the Authority,
                    whether provided by the person or not, relating
to—
(Amended
20 of 2023 s. 22
)
(i)
any other
                        body
                        corporate
                        in the group of companies; or
(ii)
any substantial shareholder or officer of the person or of any
                        body
                        corporate
                        referred to in subparagraph (i);
(Amended
20 of 2023 s. 22
)
(g)
the state of affairs of any other business which the person carries on or
                    proposes to carry
                    on;
                    and
(Amended
20 of 2023 s. 22
)
(h)
if the person is a body corporate—its internal controls and corporate
                    governance.
(Added
20 of 2023 s. 22
)
(2)
The obligations imposed on the Authority under subsection (1) are in addition
                to those of the Authority to have regard to any other matter that the Authority
                considers relevant in making the determination.