Insurance Ordinance

(1)
The Authority shall revoke a direction given under
section 35(2)
if—
(Amended
12 of 2015 s. 2
)
(a)
it appears to the Authority that it is no longer necessary for the direction to remain in force; or
(Amended
12 of 2015 s. 2
)
(b)
it is necessary to do so to give effect to a determination of the Tribunal in a review of the Authority’s direction.
(Amended
12 of 2015 s. 54
)
(2)
(Repealed
12 of 2015 s. 54
)
(3)
The revocation under subsection (1) of a direction given under
section 35(2)
shall—
(a)
be in writing;
(b)
be served
on—
(i)
the authorized insurer specified in the direction; and
(Amended
12 of 2015 s. 2
)
(ii)
the Advisor or Manager, as the case may be, of that insurer; and
(c)
take effect immediately it is so served.
(4)
Notice of a revocation under this section of a direction given under
section 35(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.
(Amended
12 of 2015 s. 2
)
(5)
A revocation in writing under subsection (1) of a direction given under
section 35(2)
includes a copy of the revocation.
(6)
For the avoidance of doubt, it is hereby declared that the revocation under subsection (1) of a direction given under
section 35(2
)(
b)
shall not revive any appointment deemed to be revoked as a consequence of the operation of
section 38A(1)
.