Hong Kong Ordinances

INSURANCE COMPANIES ORDINANCE - SECT 53A

Secrecy

(Past version on 01/04/2003).
(Past version on 01/07/2002).
(Past version on 02/06/2000).
(Past version on 03/08/1999).
(Past version on 01/07/1997).
(Past version on 30/06/1997).

PART VIIIA

SECRECY, DISCLOSURE OF INFORMATION AND EXAMINATIONS BY OUTSIDE AUTHORITIES

(1) Except in the exercise of any function under this Ordinance or for the
carrying into effect of the provisions of this Ordinance, every person to whom
this subsection applies- (Amended 75 of 1995 s. 7)

(a) shall preserve and aid in preserving secrecy with regard to all matters
relating to the affairs of any insurer that may come to his knowledge in the
exercise of any function under this Ordinance;

   (b)  shall not communicate any such matter to any person other than the
        person to whom such matter relates; and

   (c)  shall not suffer or permit any person to have access to any records in
        his possession, custody or control or in the possession, custody or
        control of any other person so appointed or employed.

(1AA) Subsection (1) shall apply to any person who is or has been-

   (a)  a public officer;

   (b)  a person employed or authorized by or assisting the Insurance 
        Authority;

   (c)  an Advisor appointed under section 35(2)(a);

   (d)  a Manager appointed under section 35(2)(b); and

   (e)  a person employed by or assisting a person to whom this subsection
        applies by virtue of paragraph (c) or (d), and who exercises or has
        exercised any function under this Ordinance. (Added 75 of 1995 s. 7)

(1A) Subsection (1) shall not apply if the Manager of an insurer is required
to comply with a notice to furnish returns and information under section 51 of
the Inland Revenue Ordinance ( Cap 112). (Added 51 of 1992 s. 14)

(2) No person who receives information, in whatever form, submitted under
section 6, 7, 13A, 13B, 14, 17, 18, 19, 20, 32, 33, 34, 50, 53D, 53E or
61(1)(a) shall be required to produce to any court any document containing
such information or to divulge or communicate to any court any matter or thing
coming under his notice in the exercise of his functions under this Ordinance,
except in the course of- (Amended 44 of 1990 s. 7; 50 of 1992 s. 7; 59 of 1993
s. 14)

   (a)  a prosecution for any offence;

   (b)  the determination by the Court of First Instance of an application
        under section 24; or

   (c)  a winding up by the Court of First Instance under Part VI. (Amended 25
        of 1998 s. 2)

(3) Subsection (1) shall not apply to the disclosure of information-

   (a)  in the form of a summary compiled from similar or related information
        provided by insurers if the summary is so compiled as to prevent
        particulars relating to the business of any such insurer being
        ascertained from it;

   (b)  with a view to the institution of; or otherwise for the purposes of,
        any criminal proceedings or investigation, whether under this
        Ordinance or otherwise, in Hong Kong;

   (c)  in connection with any civil proceedings arising out of this
        Ordinance;

   (d)  by the Insurance Authority with a view to the institution of, or
        otherwise for the purposes of, any disciplinary proceedings relating
        to the performance of his professional duties by a prescribed person;
        (Replaced 59 of 1993 s. 14)

   (da) by the Insurance Authority to a prescribed person for the purpose of
        enabling or assisting the Insurance Authority to discharge his
        functions under this Ordinance; (Added 59 of 1993 s. 14)

   (db) by a prescribed person where-

        (i)    the information has been disclosed to that person under
               paragraph (da); and

        (ii)   that person has the consent of the Insurance Authority to do
               so; (Added 59 of 1993 s. 14)

   (e)  to the Financial Secretary, an inspector appointed by the Financial
        Secretary to investigate the affairs of a company, a person holding an
        authorized statutory office or any public officer authorized by the
        Financial Secretary for the purposes of this paragraph where, in the
        opinion of the Insurance Authority- (Amended L.N. 106 of 2002)

        (i)    it is desirable or expedient that the information should be so
               disclosed in the interests of existing or potential
               policy holders or the public interest; or

        (ii)   such disclosure will enable or assist the recipient of the
               information to exercise his functions and it is not contrary to
               the interests of existing or potential policy holders or the
               public interest that the information should be so disclosed;
               (Replaced 75 of 1995 s. 7)

   (f)  by the Insurance Authority to an auditor or actuary of an authorized
        insurer, an authorized insurance broker or a body of insurance 
        brokers approved under section 70 if, in the opinion of the Insurance 
        Authority, such information is necessary for the auditor or actuary,
        as the case may be, to perform his duties under this Ordinance; (Added
        75 of 1995 s. 7)

   (g)  subject to subsection (3A), by the Insurance Authority with the
        consent of the person from whom the information was obtained or
        received and if the information relates to a different person, also
        with the consent of the person to whom the information relates; (Added
        75 of 1995 s. 7. Amended 31 of 2000 s. 3)

   (h)  by the Insurance Authority if it has been made available to the public
        by virtue of its being disclosed in any circumstances in which, or for
        any purpose for which, disclosure is not precluded by this section or
        section 53B; or (Added 75 of 1995 s. 7. Amended 31 of 2000 s. 3)

   (i)  by the Insurance Authority if-

        (i)    the information is in the form of- (A) such accounts,
               statements and information relating to the business of an
               insurer as have been submitted to the Insurance Authority under
               section 17(1); (B) such accounts, statements, reports and
               information relating to the business of Lloyd's as have been
               submitted to the Insurance Authority under section 50C(1)(a),
               (b), (c) and (d); or (C) such accounts, statements and other
               statistical and financial information relating to the
               long term business carried on in Hong Kong by an insurer or
               Lloyd's (as the case may be), as have been provided by the
               insurer or Lloyd's to the Insurance Authority on a voluntary
               basis; and

        (ii)   in the opinion of the Insurance Authority, it is desirable that
               the information should be so disclosed in the interests of
               existing or potential policy holders or in the public interest.
               (Added 31 of 2000 s. 3)

(3A) Subsection (3)(g) shall not operate to require the Insurance  Authority
to disclose in or in relation to any civil proceedings any information which
he may disclose, or has disclosed, pursuant to that subsection. (Added 75 of
1995 s. 7)

(3B) For the purposes of subsection (3)(e), "authorized statutory office"
(認可法定職位) means-

   (a)  the Monetary Authority appointed under section 5A of the
        Exchange Fund Ordinance ( Cap 66) in the exercise of his functions
        under the Banking Ordinance ( Cap 155);

   (b)  the Securities and Futures Commission referred to in section  3 (1) of
        the Securities and Futures Ordinance ( Cap 571); (Added 75 of 1995 s.
        7. Amended 4 of 1998 s. 3; 5 of 2002 s. 407; 18 of 2006 s. 67)

   (c)  the Mandatory Provident Fund Schemes Authority established by
        section 6 of the Mandatory Provident Fund Schemes Ordinance (
        Cap 485); or (Added 4 of 1998 s. 3. Amended 18 of 2006 s. 67)

   (d)  the Financial Reporting Council established by section 6(1) of the
        Financial Reporting Council Ordinance ( Cap 588). (Added 18 of 2006 s.
        67)

(3C) The Legislative Council may, by resolution, amend subsection

(3B) by adding or deleting the authorized statutory offices defined therein.
(Added 75 of 1995 s. 7)

(3D) Where information is disclosed in any of the circumstances described in
subsection (3), other than subsection (3)(a), (h) and (i), neither- (Amended
31 of 2000 s. 3)

   (a)  the person to whom that information is disclosed; nor

   (b)  any person obtaining or receiving the information, whether directly or
        indirectly, from the person referred to in paragraph (a), shall
        disclose the information, or any part thereof, to any other person
        without the consent of the Insurance Authority. (Added 75 of 1995 s.
        7)

(3E) Subject to subsections (2) and (3)(b) and (c), a person who is the
Insurance Authority, and a person employed or authorized by or assisting the
Insurance Authority, shall not disclose any information under this section
relating to the affairs of any individual policy holder of an insurer. (Added
31 of 2000 s. 3)

(4) Any person who contravenes subsection (1) commits an offence and is
liable-

   (a)  on conviction upon indictment to a fine of $200000 and, in the case of
        an individual, to imprisonment for 2 years; or

   (b)  on summary conviction to a fine at level 6 and, in the case of an
        individual, to imprisonment for 6 months. (Amended 35 of 1996 s. 26)

(4A) Any person who contravenes subsection (3D) commits an offence and is
liable-

   (a)  on conviction upon indictment to a fine of $200000 and, in the case of
        an individual, to imprisonment for 2 years; or

   (b)  on summary conviction to a fine at level 6 and, in the case of an
        individual, to imprisonment for 6 months. (Added 75 of 1995 s. 7)

(5) This section shall apply to-

   (a)  companies which make application under section 7;

   (b)  associations of underwriters; and

   (c)  Lloyd's, as it applies to insurers.

(6) For the purposes of this section, "function" includes a power and a duty.
(Part VIIIA added 34 of 1988 s. 6)

"authorized statutory office" (認可法定職位)

"function"