Insurance Ordinance

(1)
Subject to
section 26(5)
, the
                Authority
                may require
                an
                authorized insurer to take such action in respect of its affairs,
                business or property as the
                Authority
                considers appropriate.
(2)
Without prejudice to subsection (1), but subject to
section 26(1A)
and (5) and subsections (3) and (4), the
Authority—
(Amended
12 of 2015 s. 2
)
(a)
may give a direction that, during the period for which the direction is in
                    force,
                    the
                    authorized insurer specified in that direction shall seek
                    advice on the management of its affairs, business and property from an Advisor,
                    for which purpose the
                    Authority
                    shall appoint a person to be the Advisor of that insurer; or
(b)
may give a direction that, during the period for which the direction is in
                    force, the affairs, business and property of
                    the
                    authorized insurer specified in that direction shall be
                    managed by a Manager, for which purpose the
                    Authority
                    shall appoint a person to be the Manager of that insurer.
(3)
The
                Authority
                shall not give a direction under subsection (2) in respect of
                an
                authorized insurer in relation to which the Court of First
                Instance
has—
(Amended
12 of 2015 s. 2
)
(a)
made an order for the winding up of the insurer by the Court of First
                    Instance;
(b)
made an order under
section 45(1)
.
(Amended
25 of 1998 s. 2
)
(4)
A direction given under subsection (2) in respect of
                an authorized
                insurer
                which is a
non-
Hong Kong
                company
                must,
                by virtue of this subsection, apply only
to—
(Amended
28 of 2012 ss. 912 & 920
;
12 of 2015 s. 2
;
14 of 2025 s. 134
)
(a)
so much of the affairs and business of the insurer as are carried on, or
                    managed, in or from Hong Kong; and
(b)
so much of the property of the insurer as is located in, or managed from,
                    Hong Kong.
(5)
A direction given under subsection (2)
shall—
(a)
be in writing;
(b)
be served on the insurer specified in the direction;
(c)
take effect immediately it is so served; and
(d)
state the name and address of the Advisor or Manager, as the case may be,
                    appointed in respect of that insurer.
(6)
Notice of a direction given under subsection
(2
)(
b)
shall be
                published by the
                Authority
                in the Gazette and in such other ways as appear to
                the
                Authority expedient for notifying the public.
(7)
To
                avoid doubt, the exercise of any power conferred on the
                Authority
                by this section
                is
                without prejudice to the exercise of any of the powers conferred on
                the
                Authority by
sections
                    27
,
28
,
29
,
30
,
31
,
32
,
32A
,
33
and
34
.
(Amended
20 of 2023 s. 54
)