Insurance Ordinance

(1)
An
                authorized insurer
                is
                deemed for the purposes of
sections 177
and
327
of the
                Companies (Winding Up and Miscellaneous Provisions) Ordinance (
Cap. 32
) to be unable to pay its debts if at any time
                the
                amount of capital of the insurer, as determined in accordance with the rules made
                under
section 129
, is less than the minimum capital amount for the insurer.
(Amended
8 of 1989 s. 6
;
28 of 2012 ss. 912 & 920
;
12 of 2015 s. 2
)
(1A)
(Repealed
20 of 2023 s. 61
)
(2)
This
                section does not affect the manner in which, on a winding up, any
                assets or liabilities are required to be dealt with by virtue of
section
                    45
.