INSURANCE DEPOSIT (FIRE AND MARINE) REGULATIONS

INSURANCE DEPOSIT (FIRE AND MARINE) REGULATIONS

FIRE AND MARINE INSURANCE
COMPANIES DEPOSIT.

FORMS.

(Cap. 34, section 6(1)).
(Ordinance No. 32 Of 1917).

For forms prescribed by the Fire and Marine Insurance
Companies Deposit Ordinance, see the Schedule to that
Ordinance.

INSURANCE DEPOSIT (FIRE AND MARINE)
REGULATIONS.

(Cap. 34, section 7).
(Ordinance NO. 32 Of 1917).

[28th December, 1917.]

1. The value of any securities deposited with the
Registrar under section 5 of the Ordinance shall be the
market value on the day on which they are so deposited.

2. The company shall prove the market value thereof
to the satisfaction of the Registrar and shall pay to the
Registrar a fee of twenty-five cents for every hundred
dollars of such market value.

3. The company shall before depositing such sectintICS
transfer the legal ownership therein to the Registrar.

4. If at any time the Registrar is of opinion that any
securities have fallen below their value at the date of
deposit he may require the company to make tip the differ-
ence in value by the deposit of further securities ; and the
fees payable on such further deposit shall be charged at
the rate set out in regulation 2.

5. If the company is dissatisfied with any such
requirement it may appeal to the Governor in Council who
shall thereupon determine whether an), further deposit is
necessary, and if so to what amount.





6. Subject to the provisions of section 5 of the Ordin-
ance, a company shall be entitled at any time. to substitute
approved securities for any part of its existing deposit and
the provisions of these regulations with regard to the
original deposit shall apply mutatis mutandis to any such
substituted deposit.

7. The fees payable for inspection of documents or
registers, for copies or extracts or in respect of any acts
done under the Ordinance shall be those prescribed as near
as may be at the discretion of the Registrar in respect
of the like acts under the Companies Ordinance.

8. These regulations may be cited as the Insurance
Deposit (Fire and Marine) Regulations.

CHAPTER 35.
(Ordinance No. 3 Of 1908).
FIRE INSURANCE COMPANIES.
No subsidiary legislation.
Ord. 32 of 1917, s. 7, First Schedule. G.N. 809/40. (Cap. 34). (Cap. 34). (Cap. 32).

Ord. 32 of 1917, s. 7, First Schedule. G.N. 809/40. (Cap. 34). (Cap. 34). (Cap. 32).

https://oelawhk.lib.hku.hk/items/show/1695

1950

v8

34

2