Insurance Ordinance

(1)
Section 17
applies to Lloyd’s as if a reference to an authorized
                insurer in that section were a reference to Lloyd’s.
(Replaced
20 of 2023 s. 66
)
(2)-(8)
(Repealed
20 of 2023 s. 66
)
(9)
On submitting
                to
                the Authority an annual report published by Lloyd’s on its global results under a
                requirement prescribed by virtue of
section 17
, Lloyd’s
                must pay to the
                Authority
                a fee equal to the fee paid annually by an authorized insurer under
section
                    13(1)
.
(Amended
12 of 2015 s. 2
;
20 of 2023 s. 66
)
(10)
If it appears to the Authority that Lloyd’s does not intend to effect any
                contract of insurance in or from Hong Kong after the date on which Lloyd’s submits
                the annual report mentioned in subsection (9), the Authority may waive the payment
                of the fee payable in respect of the financial year to which the report relates and
                any subsequent financial year.
(Replaced
20 of 2023 s. 66
)
(11)
The Authority may revoke the waiver under subsection (10) by a written notice
                to Lloyd’s, and the revocation takes effect from the date of the notice.
(Added
20 of 2023 s. 66
)