Insurance Ordinance

(1)
Before exercising with respect to an authorized insurer the power conferred by
section 27
the Authority shall serve on the insurer a written notice
stating—
(Amended
12 of 2015 s. 2
)
(a)
that the Authority is considering exercising that power and the ground on which the Authority is considering the exercise of the power; and
(b)
that the insurer may, within the period of 1 month from the date of service of the notice, make written representations to the Authority and, if the insurer so requests, oral representations to a person appointed for the purpose by the Authority.
(Amended
12 of 2015 s. 50
)
(2)
This section shall not apply if the ground on which the Authority proposes to exercise the power relates (as provided in
section 26(1
)(
e)
) to the fitness of any person to hold the position of director or controller of the insurer.
(3)
A notice under this section shall give particulars of the ground on which the Authority is considering the exercise of the power except that no particulars need be given if the ground is that mentioned in
section 26(2)
.
(4)
Where representations are made in accordance with
                this
                section the
                Authority
                shall take them into consideration before exercising the power.