Insurance Ordinance

(1)
In determining whether a person is a fit and proper person for the purposes of this Division, the Authority must have regard to the following
matters—
(a)
the education or other qualifications or experience of the person;
(b)
the person’s ability to carry on a regulated activity competently, honestly and fairly;
(c)
the reputation, character, reliability and integrity of the person;
(d)
the person’s financial status or solvency;
(e)
whether any disciplinary action has been taken against the person
by—
(i)
the Monetary Authority;
(ii)
the Securities and Futures Commission;
(iii)
the Mandatory Provident Fund Schemes Authority; or
(iv)
any other authority or regulatory organization, whether in Hong Kong or elsewhere, which, in the Authority’s opinion, performs a function similar to those of the Authority;
(f)
if the person is a company in a group of companies, any information in the possession of the Authority, whether provided by the person or not, relating
to—
(i)
any other company in the group of companies; or
(ii)
any controller or director of the person or of any company referred to in subparagraph (i);
(g)
the state of affairs of any other business which the person carries on or proposes to carry on.
(2)
In determining whether a person is a fit and proper person for the purposes of
section 64U
or
64ZA
, or
section 64ZV
for the renewal of a licence granted under
section 64U
or
64ZA
, the Authority must also have regard to any information in its possession whether provided by the person or not relating
to—
(a)
any other person who is or is to be employed by, or associated with the person for the purposes of carrying on regulated activities;
(b)
any other person who is or will be acting for or on behalf of the person in relation to carrying on regulated activities; and
(c)
the question as to whether the person has established effective internal control procedures and risk management systems to ensure its compliance with this Ordinance.
(3)
The obligations imposed on the Authority under subsection (1) or (2) (or both) are in addition to those of the Authority to have regard to any other matter that the Authority considers relevant in making the determination.