Cap. 41activeordinance

Insurance Ordinance

保險業條例

Full legislation

s.41W

Requirement to transfer records on revocation or suspension

(1)
If the authorization of an authorized insurer is revoked or suspended under
                this Division, the Authority may, by notice in writing, require the insurer to
                transfer to a policy holder of the insurer a copy of the records relating to the
                policy holder’s assets or affairs, held at any time for the policy holder as
                specified in the notice.
(2)
A
                person who, without reasonable excuse, fails to
                comply
                with a requirement imposed on the person under subsection (1) commits an offence and
                is liable to a fine of $200,000 and to imprisonment for 2 years.