Insurance Ordinance

(1)
The
Authority—
(a)
may require an authorized insurer or a licensed insurance intermediary to produce, at the time and place that the Authority specifies, the books or papers that it specifies for obtaining information in relation to a regulated activity carried on by a licensed insurance intermediary; and
(b)
may authorize a person, on producing (if required to do so) evidence of the person’s authority, to require an authorized insurer or a licensed insurance intermediary to produce to the person, at the time and place that the person specifies, the books or papers that the person specifies for obtaining information in relation to a regulated activity carried on by a licensed insurance intermediary.
(Replaced
12 of 2015 s. 82
)
(2)
Where the Authority or a person authorized by the Authority has power to require the production of any books or papers from an authorized insurer or a licensed insurance intermediary, the
                Authority or the authorized person shall have the same power to require production of those books or papers from any person who appears to the Authority or the authorized person to be in possession of them.
(Amended
12 of 2015 ss. 2 & 82
)
(3)
A power to require an authorized insurer or a licensed insurance intermediary or other person to produce books or papers shall include
power—
(Amended
12 of 2015 s. 82
)
(a)
if the books or papers are
produced—
(i)
to take copies of them or extracts from them; and
(ii)
to require the person, or any other person who is a present or past director, controller, auditor or actuary of, or is or was at any time employed by, the authorized insurer or the licensed insurance intermediary in question, to provide an explanation of any of them;
(Amended
12 of 2015 s. 82
)
(b)
if the books or papers are not produced, to require the person who was required to produce them to state, to the best of his knowledge and belief, where they are.
(4)
(Repealed
12 of 2015 s. 82
)
(5)
(Repealed
28 of 2012 ss. 912
& 920)
(6)
A person who fails to produce books or papers required under this section commits an offence and is liable to a fine at level 6, 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. 82
)