Insurance Ordinance

(1)
This section applies if the Authority approves the appointment of a person as
                an actuary of an authorized insurer under
section
                    15AAAB(2)
.
(Amended
20 of 2023 s. 25
)
(1A)
For subsection (1), it does not matter whether the approval
is—
(a)
given on an application made under
section 15AAAB(2
)(
a)
;
                    or
(b)
taken to be given by virtue of
Part 2 of Schedule 12
.
(Added
20 of 2023 s. 25
)
(2)
The Authority may impose any conditions that it considers appropriate on the
                approval
                when
                the
                approval
                is given.
(Amended
20 of 2023 s. 25
)
(3)
The Authority may also impose any conditions that it considers appropriate on
                the approval after the
                approval
                is given or taken to be given.
(Amended
20 of 2023 s. 25
)
(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 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 person or at the time specified in the notice, whichever
                is the later.