FIRE INSURANCE COMPANIES ORDINANCE, 1908

FIRE INSURANCE COMPANIES ORDINANCE, 1908

No. 3 of 1908.
To authorise the removal of Fire Insurance Companies front the
Register of Companies in certain cases.
[7th February, 1908.1
1. The Fire Insurance Companies Ordinance, 1908.

2. In this Ordinance,-
---Fire insurance company'shall include any corporate association

registered under the Companies Ordinance which issues or is or
becomes liable tinder policies of fire insurance within the Colony.
- Registrar - means the Registrar of Companies.

1-M The Governor may upon such grounds as he may deem
sufficient appoint one or more inspectors to examine into the affairs
of any fire insurance company registered under the Companies
Ordinance.

(2) It shall be the duty of all officers and agents of the company
to producQ for examination by the inspector all books and documents
in their custody or power.
(3) Any inspector may examine upon oath the officers and agents
of the company in relation to its business and may administer such
oath accordingly.

As amended by No. 12 of 1912 and No. 43 of 1912.
As arnerided by No. 30 of 1911, No. 50 of 1911 and No. 12 of 1912.





(4) If any officer or agent refuses to produce any book or docu-
ment hereby directed to be produced or to answer any question
relating to the affairs of the company he shall be liable, on summary
conviction, to a fine not exceeding -50 dollars for each offence.

4.-M On the conclusion of the examination the inspector shall
report his opinion to the Colonial Secretary, and if it shall appear
to the satisfaction of the Governor-in-Council from such report that
such company is unable, to rneet its liabilities and pay its debts the
Governor-in-Cotinell may authorise the Registrar to strike such
e
company off the register of companies.

(2) The. Registrar shall forthwith strike the. name of such com-
pany off the register and shall publish notice thereof in the Gazette,
and on such publication the company whose name is so struck off
shall be dissolved : Provided that the liability, if any, of every
director, managing officer, and member of the company shall con-
timic and inav be enforced as if the company had not, been dis-
solved.

0A copy of such notice shall be sent. to such company and may
either be sent by post or be delivered by hand addressed to
the company at its registered office, or, if no office has been
registered, addressed to the care of some director or officer of the
company, or, if there is no director or officer of the company whose
name and address are known to the Registrar, the notice may be
sent, or delivered to each of the persons who subscribed the memo-
randum of association, addressed to him at the address mentioned
in that memorandum.

(4) In the execution of his duties under this section the Registrar
shall conform to any regulations made by the Governor-in-Council.

5. If any company or member or creditor thereof feels aggrieved
by the name of such company having been struck off the register
in pursuance of the last section, the company or member or creditor
may apply to the Court, and the Court, if it is satisfied that the
Company is able to meet its liabilities and pay its debts or other-
wise that it is just to do so, may order the name of the company to
be restored to the register, and thereupon the company shall be
deemed to have continued in existence as if the name thereof had

As antended by No. 19 of 1908, No. 12 of 1912 and No. 48 of 1912
Supp. Sched.
As arnended by No. 19 of 1908 and 1Co. 50 of 1911.

never been struck off; and the Court may, by the order, give such
directions and make such provisions as may seern just for placing
the company and all other persons in the same position, as nearly
as may be, as if the name of the company had never been struck
off.

Short title. Interpretation of terms No.58 of 1911. Examination of affairs of fire insurance companies. No.58 of 1911. Governor-in-Council may order delinquent fire insurance companies to be struck off the register. Court may restore the name of company.

Short title. Interpretation of terms No.58 of 1911. Examination of affairs of fire insurance companies. No.58 of 1911. Governor-in-Council may order delinquent fire insurance companies to be struck off the register. Court may restore the name of company.

https://oelawhk.lib.hku.hk/items/show/958

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