Insurance Ordinance

(1)
A licensed insurance intermediary may apply to the Authority for the approval of the variation of a line of business specified in the licence of the intermediary.
(2)
The Authority may approve the variation of a line of business of the
applicant—
(a)
on an application made in the manner specified by the Authority; and
(b)
on payment of a prescribed fee.
(3)
The application under subsection (1) must be accompanied by the particulars that are prescribed by rules made under
section 129
.
(4)
The Authority must not approve the variation unless it is satisfied that the applicant is a fit and proper person to carry on regulated activities in the line or lines of business after the variation.
(5)
The Authority must give the applicant a notice in writing of the result of the application made under subsection (1).
(6)
If the application is rejected, the notice must include a statement of the reasons for the rejection.
(7)
The Authority must, as soon as practicable after granting the approval under subsection (2), amend any relevant particulars in the register kept under
section 64O
.