Insurance Ordinance

(1)
An individual may apply to the Authority for a technical representative (broker) licence to carry on regulated activities in one or more lines of business, as an agent of any licensed insurance broker company.
(2)
On an application made in the manner specified by the Authority and on payment of a prescribed fee, the Authority may grant to the applicant a technical representative (broker) licence to carry on regulated activities in one or more lines of business specified in the licence, as an agent of any licensed insurance broker company.
(3)
The Authority must not grant the licence unless it is satisfied
that—
(a)
the applicant is a fit and proper person to carry on regulated activities in the lines of business concerned;
(b)
the applicant is appointed as an agent
by—
(i)
at least one licensed insurance broker company; or
(ii)
a person who applies under
section 64ZA
for an insurance broker company licence; and
(c)
the applicant is neither the holder of a licence granted under
section 64U
,
64W
or
64Y
nor applying for such a licence.
(4)
The Authority must give the applicant a notice in writing of the result of the application made under subsection (1).
(5)
If the application is rejected, the notice must include a statement of the reasons for the rejection.