Insurance Ordinance

(1)
If, in the opinion of the Authority, a non-HK insurer carries on a majority of
                its insurance business in or from Hong Kong, the Authority may, by a written notice
                served on the insurer, designate the insurer as a designated insurer.
(2)
If, in the opinion of the Authority, a non-HK insurer designated under
                subsection (1) no longer carries on a majority of its insurance business in
                or
                from Hong Kong, or becomes a re-domiciled insurer,
                the
                Authority may, by a written notice served on the insurer, withdraw the designation.
(Amended
14 of 2025 s. 119
)
(3)
A designation under subsection (1
)—
(a)
takes effect on the date specified in the notice under that subsection;
                    and
(b)
ceases to have effect on the date specified in the notice under subsection
                    (2).
(4)
If the Authority makes a designation under subsection (1) or withdraws a
                designation under subsection (2), the Authority must, as soon as practicable after
                the designation or withdrawal, publish in the Gazette a notice of the designation or
                withdrawal.