Insurance Ordinance

(1)
This section applies to a person who
is—
(a)
a proprietor or a partner of a licensed insurance agency; or
(b)
a director or an employee of a licensed insurance agency who manages or controls any matter relating to a regulated activity of the agency.
(2)
The person must not also
be—
(a)
a proprietor or a partner of another licensed insurance agency;
(b)
a licensed individual insurance agent;
(c)
a licensed technical representative (agent) of another licensed insurance agency;
(d)
a licensed technical representative (broker);
(e)
a director or an employee of another licensed insurance agency who manages or controls any matter relating to a regulated activity of that other agency; or
(f)
a director or an employee of a licensed insurance broker company who manages or controls any matter relating to a regulated activity of that company.
(3)
A person who contravenes subsection (2) commits an offence and is liable to a fine at level 6 and to imprisonment for 6 months.