Insurance Ordinance

(1)
A non-HK insurer (other than a designated insurer and an insurer in relation to
                which a permission under
section 25AAC(1)
is in effect) may, by a written
                notice, elect to comply with
section 25AA(6)
, instead of
section
                    25AA(4)
.
(2)
The notice under subsection (1)
must—
(a)
be in the specified form;
(b)
be served on the Authority; and
(c)
state the date on which the insurer intends the election to take effect
                            (
intended effective date
).
(3)
The election under subsection (1) takes
effect—
(a)
if the notice is served on the Authority at least 14 days before the
                    intended effective date—on the intended effective date; or
(b)
otherwise—on the expiry of 14 days after the date on which the notice is
                    served on the Authority.
(4)
The insurer may, by a written notice, withdraw the election under subsection
                (1).
(5)
The notice of withdrawal under subsection (4)
must—
(a)
be in the specified form;
(b)
be served on the Authority; and
(c)
state the date on which the insurer intends the withdrawal to take effect
                            (
intended withdrawal date
).
(6)
The withdrawal under subsection (4) takes
effect—
(a)
if the notice of withdrawal is served on the Authority at least 14 days
                    before the intended withdrawal date—on the intended withdrawal date;
                    or
(b)
otherwise—on the expiry of 14 days after the date on which the notice of
                    withdrawal is served on the Authority.