Full legislation
s.41U
Effect of suspension under section 41P
(1) If the authorization of an authorized insurer is suspended under section 41P , the insurer must, during the suspension period— (a) continue to be regarded for the purposes of this Ordinance to be authorized, whether in relation to all or any, or a part of all or any, of the class or classes of insurance business for which the authorization of the insurer is suspended; and (b) without limiting paragraph (a), continue to be required to comply with the provisions of this Ordinance relating to an authorized insurer as would apply to the insurer were the authorization not so suspended. (2) Without limiting the powers that can be exercised by the Authority under section 41P , the Authority may revoke the authorization even though the authorization is suspended under section 41P .