Insurance Ordinance

(1)
On renewing a licence under
section 64ZV
, the Authority may amend or revoke a condition of the licence previously imposed on the licensee, or impose a new condition on the licensee, that the Authority thinks fit.
(2)
If the Authority amends or revokes a condition or imposes a new condition, the Authority must, at the time the licence is renewed, inform the licensee by notice in writing.
(3)
The notice must include a statement of reasons for imposing or amending the conditions.
(4)
An amendment, revocation or imposition of any condition under subsection (1) takes effect at the time the notice under subsection (2) is served on the licensee or at the time specified in the notice, whichever is the later.