Hong Kong Regulations

MERCHANT SHIPPING (LOCAL VESSELS) (COMPULSORY THIRD PARTY RISKS INSURANCE) REGULATION - SECT 22

Transitional

(1) A protection and indemnity association that was an authorized insurer
approved under section 107B(2) of the Merchant Shipping Ordinance ( Cap 281)
immediately before the commencement of this section shall be deemed to be an
insurer approved under section 5.

(2) A policy of insurance that is in compliance with section  107C (1) of the
Merchant Shipping Ordinance ( Cap 281) immediately before the commencement of
this section shall be deemed to be a policy of insurance in compliance with
section 23C(1) of the Ordinance until—

   (a)  the date of expiry of the policy;

   (b)  the expiry of 1 year from the date of the commencement of this
        section; or

   (c)  the terms or conditions of the policy are altered in any way which
        would, if section 107C(1) of the Merchant Shipping Ordinance ( Cap 
        281) was still in force, cause the policy to cease to be in compliance
        with that section, whichever is the earliest.