Full legislation
s.72
Licensed insurance broker company must appoint auditor
(1)
A licensed insurance broker company must, within 1 month after being granted a licence under
section 64ZA
, appoint as its
auditor—
(Amended
12 of 2015 s. 80
)
(a)
a person who is
not
prohibited under
section 20AAZZR
of the Accounting and Financial
Reporting Council Ordinance (
Cap. 588
) from holding
any appointment as an auditor of a
company
and is not disqualified under
section 393
of the Companies Ordinance
(
Cap. 622
); or
(Amended
28 of 2012 ss. 912 & 920
;
L.N. 66 of
2022
)
(b)
for
a
licensed insurance broker company incorporated
outside
Hong Kong (other than a
re-
domiciled company), a
person—
(Amended
12 of 2015 s. 80
;
14 of 2025 s. 138
)
(i)
who may lawfully practise as an auditor in the place of its
incorporation; and
(ii)
who holds a qualification that the
Authority
accepts as being of a standard comparable to that of a person referred to in
paragraph (a).
(2)
(Repealed
12 of 2015 s. 80
)
(3)
A licensed insurance broker company must within 1 month from appointing an auditor under subsection (1) serve on the Authority a notice in writing of the appointment and the name and qualifications of the auditor appointed.
(Amended
12 of 2015 s. 80
)
(4)
If the appointment of an auditor ends, the licensed insurance broker company must within 1 month from the ending of the
appointment—
(Amended
12 of 2015 s. 80
)
(a)
appoint a new auditor; and
(b)
serve notice on the Authority of the ending and new appointment.
(5)
A licensed insurance broker company which contravenes this section commits an offence and is liable to a fine at level 3, and in the case of a continuing offence, to a further fine of $500 for each day during which the offence continues.
(Added
12 of 2015 s. 80
)