Insurance Ordinance

(1)
This section applies to a person
who—
(a)
is a director or an employee of a licensed insurance broker company; and
(b)
manages or controls any matter relating to a regulated activity of the company.
(2)
The person must not also
be—
(a)
a proprietor or a partner of a licensed insurance agency;
(b)
a licensed individual insurance agent;
(c)
a licensed technical representative (agent); or
(d)
a director or an employee of a licensed insurance agency who manages or controls any matter relating to a regulated activity of the agency.
(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.