Insurance Ordinance

(1)
A
non-
HK insurer becomes a
re-
domiciled insurer if
it—
(a)
becomes a re-domiciled company; and
(b)
is deregistered from its place of incorporation.
(2)
If a non-HK insurer becomes a re-domiciled insurer under subsection (1), the
                date on which it is deregistered from its place of incorporation is taken to be the
                date on which it becomes a re-domiciled insurer.
(3)
Before a non-HK insurer applies under
section 820B
of the Companies
                Ordinance (
Cap. 622
) for registration as a re-domiciled
                company for the purposes of subsection
(1
)(
a)
, the non-HK insurer must
                apply to the Authority for, and receive from it, a letter of no-objection to the
                registration.
(4)
If a
non-
HK insurer contravenes subsection (3
)—
(a)
the Authority may exercise its powers under Parts V and VA in relation to
                    the contravention; and
(b)
the contravention does not affect the operation of subsection (1) in
                    relation to the non-HK insurer.
(5)
An application made under subsection (3)
must—
(a)
be in the specified form;
(b)
be accompanied by any information specified by the Authority; and
(c)
be served on the Authority.
(6)
After deciding on a non-HK insurer’s application under subsection (3), the
                Authority must give the insurer a written notice of the result of the
                application.
(7)
If the application made under subsection (3) is rejected by the Authority, the
                notice must include a statement of the reasons for the rejection.