Insurance Ordinance

(1)
Within 14 days after the date on which an authorized insurer terminates the appointment of a licensed insurance agency or licensed individual insurance agent, the insurer must notify the Authority in writing of the termination.
(2)
Within 14 days after the date on which a licensed insurance agency terminates the appointment of a licensed technical representative (agent), the agency must notify the Authority in writing of the termination.
(3)
Within 14 days after the date on which a licensed insurance broker company terminates the appointment of a licensed technical representative (broker), the company must notify the Authority in writing of the termination.
(4)
Within 14 days after the date on which the appointment of a responsible officer of a licensed insurance agency or licensed insurance broker company is terminated, the agency or company must notify the Authority in writing of the termination.
(5)
The Authority must, as soon as practicable after receiving a notification under subsection (1), (2), (3) or (4), amend any relevant particulars in the register kept under
section 64O
.
(6)
A person who contravenes subsection (1), (2), (3) or (4) commits an offence and is liable to a fine at level 5.