Insurance Ordinance

(1)
The Manager of an authorized
insurer—
(Amended
12 of 2015 s. 2
)
(a)
may do all such things as may be necessary for the management of the affairs, business and property of the insurer; and
(b)
without prejudice to the generality of paragraph (a), shall have, and may exercise, in respect of that insurer, all the powers specified in
Schedule 7
.
(Amended
12 of 2015 s. 53
)
(2)
The Manager of an authorized insurer may require any person
who—
(Amended
12 of 2015 s. 2
)
(a)
has ceased to be a chief executive, director or controller (within the
                    meaning of
                    paragraph
(a
)(
ii)
of the definition of
controller
in
section 13A(12)
) of the insurer as a consequence
                    of the operation of
section 38A(1)
; or
(Amended
12 of 2015 s. 53
)
(b)
is a controller of the insurer,
to submit such information in relation to the affairs, business and property of the insurer as the Manager may reasonably require for the performance of his functions or the exercise of his powers in respect of the insurer, and such information shall be submitted within such period and in such manner as the Manager may require.
(3)
The Manager of an authorized insurer
may—
(Amended
12 of 2015 s. 2
)
(a)
with the approval of the
Authority—
(Amended
12 of 2015 s. 2
)
(i)
if the insurer is
                        an
                        HK
                        insurer—appoint
                        any person (including a person referred to in
section 38A(1
)(
a)
)
                        to be a chief executive or director of the insurer, whether to fill a
                        vacancy arising from the operation of
section 38A(1
)(
a)
or
                        otherwise;
(ii)
if the insurer is
                        a non-HK
                        insurer—appoint
                        any person (including a person referred to in
section 38A(1
)(
b)
)
                        to be a controller (within the meaning of
                        paragraph
(a
)(
ii)
of the definition of
controller
in
section 13A(12)
) of the insurer, whether to
                        fill a vacancy arising from the operation of
section 38A(1
)(
b)
or otherwise;
(Amended
12 of 2015 s. 53
)
(iii)
revoke any appointment made pursuant to subparagraph (i) or (ii);
(Amended
20 of 2023 s. 59
)
(b)
call any meeting of the members, directors or creditors of the insurer.
(4)
Neither
section 13A(1)
nor
section 14(4)
shall apply to any appointment made pursuant to subsection
(3
)(
a
)(
i)
or (ii).
(Amended
12 of 2015 s. 53
)
(5)
An authorized insurer is not required to give any notice to the Authority pursuant to
section 14(1)
or (2), and a person is not required to give any notice to an authorized insurer pursuant to
section 14(3)
, as a consequence of any
                appointment, or the revocation of any appointment, made pursuant to subsection
(3
)(
a)
.
(Amended
12 of 2015 s. 2
)
(6)
During the period for which a direction given under
section 35(2
)(
b)
is in force in respect of an authorized insurer, any power conferred on the insurer or its officers or members, whether by this Ordinance , the Companies Ordinance (
Cap. 622
) or the Companies (Winding Up and Miscellaneous Provisions) Ordinance (
Cap. 32
), or by the memorandum or articles of association, which could be exercised in such a way as to interfere with the exercise by the Manager of the insurer of his powers is not exercisable except with the consent of the
                Manager, which consent may be given either generally or in any particular case.
(Amended
28 of 2012 ss. 912
& 920;
12 of 2015 s. 2
)
(7)
In exercising his powers the Manager of an authorized insurer shall be deemed to act as the insurer’s agent and, in relation thereto,
section 9
of the Prevention of Bribery Ordinance (
Cap. 201
) shall apply
to—
(Amended
12 of 2015 s. 2
)
(a)
the Manager acting as such agent; and
(b)
any person who offers an advantage, within the meaning of that Ordinance, to the Manager acting as such agent,
as if subsections (4) and (5) of that section were omitted.
(8)
A person dealing with the Manager of an authorized insurer in good faith and for value is not concerned to inquire whether the Manager is acting within his powers.
(Amended
12 of 2015 s. 2
)