Insurance Ordinance

(1)
At least 14 days before an authorized insurer appoints a licensed insurance agency to carry on regulated activities in one or more lines of business as an agent of the insurer, the insurer must notify the Authority in writing of the intended appointment.
(2)
At least 14 days before an authorized insurer appoints a licensed individual insurance agent to carry on regulated activities in one or more lines of business as an agent of the insurer, the insurer must notify the Authority in writing of the intended appointment.
(3)
At least 14 days before a licensed insurance agency appoints a licensed technical representative (agent) to carry on regulated activities in one or more lines of business as an agent of the agency, the agency must notify the Authority in writing of the intended appointment.
(4)
At least 14 days before a licensed insurance broker company appoints a licensed technical representative (broker) to carry on regulated activities in one or more lines of business as an agent of the company, the company must notify the Authority in writing of the intended appointment.
(5)
The notification must be accompanied
by—
(a)
a prescribed fee; and
(b)
the particulars that are prescribed by rules made under
section 129
.
(6)
The Authority must, after receiving a notification under subsection (1), (2), (3) or (4), update the register kept under
section 64O
accordingly unless the Authority is of the view
that—
(a)
in relation to subsection (1), the licensed insurance agency has not complied with, or will be unable to comply with, the provisions of this Ordinance relating to a licensed insurance agency;
(b)
in relation to subsection (2), the licensed individual insurance agent has not complied with, or will be unable to comply with, the provisions of this Ordinance relating to a licensed individual insurance agent;
(c)
in relation to subsection (3), the licensed technical representative (agent) has not complied with, or will be unable to comply with, the provisions of this Ordinance relating to a licensed technical representative (agent); or
(d)
in relation to subsection (4), the licensed technical representative (broker) has not complied with, or will be unable to comply with, the provisions of this Ordinance relating to a licensed technical representative (broker).
(7)
A person who contravenes subsection (1), (2), (3) or (4) commits an offence and is liable to a fine at level 5.