The Disciplinary Clerk shall also act as secretary to the Disciplinary Committee and shall attend all meetings and hearings of the Disciplinary Committee. Subject to section 165 of the Ordinance, every Auditor and Officer for the time being of the Confederation shall be indemnified out of the funds and assets of the Confederation against all liabilities and obligations which they, or any of them, may incur in good faith in the proper and reasonable performance or purported performance of their duties in relation to the Confederation other than any liability which attaches to them by law in respect of any negligence, default, breach of duty or breach of trust. The General Committee shall provide for the safe custody of the Seal which shall only be used by the authority of the General Committee or of a sub-committee authorised by the General Committee in that behalf and every instrument to which the Seal is affixed shall be signed by a Committee Member and shall be countersigned by the Secretary or by a second Committee Member. It shall be the duty of every Member upon request of the General Committee to give such information to the General Committee as the General Committee may from time to time reasonably require in connection with that Member’s business so that the General Committee may be satisfied as to the Member’s continued eligibility for membership (including but without prejudice to the generality of the foregoing the requirement to maintain a Professional Indemnity Insurance Policy). With effect from 23 September 2019, the Hong Kong Insurance Authority (the IA), an independent statutory body, will take over regulation of insurance intermediaries from the three existing self-regulatory organisations (the Hong Kong Confederation of Insurance Brokers, the Professional Insurance Brokers Association, and Insurance Agents Registration Board) and administer a new … "Broker" means a company wherever incorporated which carries on the business of negotiating or arranging contracts of insurance, whether in or from Hong Kong, as agent for the policy holder or potential policy holder or advising on matters related to insurance. A copy of all Regulations made by the General Committee shall be sent to each Member within seven Business Days of the making thereof or as soon as practicable thereafter. REGULATIONS Top, The name of the Company is "THE HONG KONG CONFEDERATION OF INSURANCE BROKERS (香港保險顧問聯會)", The objects for which the Confederation is established are:-. A member of the Disciplinary Appeals Committee who is in any way, whether directly or indirectly, materially interested in an appeal shall not be eligible to act at any meeting or hearing on the reference and a substitute shall be appointed by the General Committee who shall act in place of the interested member of the Disciplinary Appeals Committee at the meeting or the hearing concerned. Insurance brokers must be authorized by the IA or admitted as members of self-regulatory organisations approved by the IA. where the Subject is a Chief Executive or a Technical Representative or a director or an employee of a Member (as the case may be) impose one or more of the following disciplinary penalties or where the Subject is a former Chief Executive or a former Technical Representative of a Member or of a former Member or a former director or employee of a Member or of a former Member (as the case may be) impose either or both disciplinary penalties under paragraph (ii) and paragraph (iii):-, direct that the name of such Subject be removed from the Sub-register of Chief Executives and Technical Representatives or be suspended from registration for such period as it may deem expedient; or, direct that the Subject be prohibited from being a director or shareholder of, or associated in any manner with, or registered as a Chief Executive or a Technical Representative in respect of, any Member for such period as it may deem expedient; or, direct that no Broker of which the Subject is a director or shareholder or with which such Subject is associated in any manner shall be admitted to membership of the Confederation for such period of time as the Disciplinary Committee may direct (if at all); or, suspend or prohibit the Subject from undertaking any line of business whether the Subject is authorized to undertake such line of business or not; or. Subject to Article 38A, a Member (“resigning Member”) may at any time by giving twelve months’ prior notice, or at the discretion of the General Committee a shorter period of notice if the General Committee is satisfied that the giving of a shorter period of notice will not be injurious to the interests of clients of the resigning Member and the interests of the Confederation, in writing to the General Committee resign its membership of the Confederation and shall cease to be a Member on the later of:-. "Professional Indemnity Insurance Policy" means a professional indemnity insurance policy with a limit of indemnity equal to or greater than that required from time to time in the Regulations and otherwise in compliance with the Regulations. XIII. "Confederation" means the Company registered as The Hong Kong Confederation of Insurance Brokers (香港保險顧問聯會). AIB Brokers HK has built a reputation as one of the leading local general insurance brokers. III. Phone: (852) 2526 1767 Fax: (852) 2868 3568 of interest on money lent by any member of the Confederation or its General Committee at a rate per year not exceeding 2% above the prime rate prescribed for the time being by The Hongkong and Shanghai Banking Corporation Limited for Hong Kong dollar loans; of reasonable and proper rent for premises demised or let by any member of the Confederation or of its General Committee; of remuneration or other benefit in money or money’s worth to a body corporate in which a member of the Confederation or of its General Committee is interested solely by virtue of being a member of that body corporate by holding not more than one-hundredth part of its capital or controlling not more than a one-hundredth part of its votes. The General Committee or any Member or Chief Executive or the Commissioner of Insurance or the Insurance Authority may refer any matter to the Disciplinary Committee for consideration, and the Disciplinary Committee shall have power to consider all matters so referred to it.  The Disciplinary Committee shall also re-consider those matters as referred back to it by the Disciplinary Appeals Committee pursuant to Article 35A(k). In the event that one third of the Committee Members do not retire, the Committee Members to retire in that year shall be those who have been longest in office since their last election or appointment, but as between persons who became or were last re-elected Committee Members on the same day those to retire (unless they otherwise agree among themselves) be determined by lot.  A retiring Committee Member shall be eligible for re-election. "Chairman" means a person appointed from time to time by General Committee to act as chairman of the General Committee, the Investigation Board, the Disciplinary Committee or the Disciplinary Appeals Committee. It shall be the duty of every Member to notify the General Committee of the failure of a Member to comply with the provisions of these Articles or any Regulations or of any matter affecting a Member’s continued eligibility for membership or for any particular class of membership. If a Chief Executive dies or retires, resigns or is removed from his position with the relevant Member or otherwise fails to comply with any of the requirements laid down in the Membership Regulations, the relevant Member shall as soon as reasonably practicable appoint an individual who complies with the requirements laid down in the Membership Regulations as its Chief Executive. MEMORANDUM OF ASSOCIATION To purchase, rent, lease, hold or otherwise acquire and dispose of any lands or buildings or any other property, real or personal, required for any purpose of the Confederation and to hold, sell, lease, develop, deal with and dispose of the same in such manner as may be thought expedient. "Articles" means these Articles of Association as amended from time to time. Put simply, an insurance agent acts for an insurer in arranging contracts of insurance, and an insurance broker acts the Investigation Board is satisfied that a prima facie case has been established in respect of such Complaint; such Complaint relates to a breach of the Articles or of the Regulations; the Subject is given notice in writing of the proposed disciplinary penalty and the notice specifies the time within which he must indicate in writing his consent to or rejection of the proposed disciplinary penalty; and. No addition, alteration or amendment shall be made to or in this Memorandum of Association or the Articles of Association for the time being in force, unless such alteration has previously been submitted to and approved by the Registrar of Companies in writing. The Chairman of the Disciplinary Committee or a member of the Disciplinary Panels may resign from office by giving prior notice in writing to the General Committee. "the Ordinance" means the Companies Ordinance (Chapter 32, Laws of Hong Kong) as amended from time to time or any other Ordinance substituted therefor; and in case of any such substitution, a reference in these Articles to a provision of the Ordinance shall be read as a reference to the provision substituted therefor in such other Ordinance. The office of an authorised representative shall be vacated if the Member which appointed him by notice in writing to the Secretary revokes the appointment or if the Member of the Confederation which appointed him ceases to be member of the Confederation. When the disciplinary penalty imposed by the Disciplinary Committee is either that of Article 29(a)(i) or Article 29(b)(i), the Disciplinary Committee may on the ground of protecting public interest, suspend the Subject immediately after the hearing until the decision of the Disciplinary Committee takes effect or is amended or quashed by the Disciplinary Appeals Committee if an appeal is lodged. CESSATION OF MEMBERSHIP "Disciplinary Panel A" means the disciplinary panel appointed by the General Committee pursuant to Article 25A(a). There shall be a Disciplinary Appeals Committee which shall determine appeals against decisions of the Disciplinary Committee made in accordance with Article 29, and its decision shall be final and not liable to be set aside or varied by any other authority or body. To acquire all or any part of the property, assets or liabilities of any other association, society or corporation in any part of the world whose objects are in general similar to the objects of the Confederation. the Chairman of the Disciplinary Committee; no more than three persons from Disciplinary Panel A; and. Subject as aforesaid, where an appeal is brought, the decision of the Disciplinary Committee shall take effect if and when the Disciplinary Appeals Committee upholds the decision of the Disciplinary Committee. IV. Where a Subject be given the opportunity to appear and be heard before the Disciplinary Committee, the Disciplinary Committee shall give to the Subject not less than fifteen Business Days’ notice in writing of any such meeting or hearing, except for a meeting or hearing conducted by the Disciplinary Committee in exercising its power under Article 32, where not less than three Business Days’ notice in writing shall be given. "Disciplinary Committee" means the committee established pursuant to Article 24. Candidates for an election of members of the General Committee are eligible to attend the general meeting at which the election is held. The Disciplinary Appeals Clerk shall also act as secretary to the Disciplinary Appeals Committee and shall attend all meetings and hearings of the Disciplinary Appeals Committee. Subject to Article 21B, each Member shall promptly submit to the Registrar for registration in the Register of Members and the Sub-register of Chief Executives and Technical Representatives, as the case may be, the particulars specified in Article 20(a). When an applicant has been accepted for membership the Registrar shall forthwith send to the applicant written notice of his acceptance and a request for payment of the entrance fee and first annual subscription.  Upon payment of the entrance fee and first annual subscription the applicant shall become a Member of the Confederation provided that if such payment is not made within two calendar months after the date of the notice, the General Committee may at its discretion revoke its acceptance of the applicant for membership of the Confederation. Two Disciplinary Panels to be known as Disciplinary Panel A and Disciplinary Panel B shall be appointed by the General Committee and shall consist of:-, in the case of Disciplinary Panel A, two or more Independent persons; and. One or more secretaries shall be appointed by the General Committee for such term, at such remuneration and upon such conditions as it thinks fit; and any secretary so appointed may be removed by it. Notwithstanding the provisions of Article 5 Brokers who are members of the Hong Kong Insurance Brokers Association or the Hong Kong Society of Insurance Brokers Limited at the date of incorporation of the Confederation shall be eligible for membership of the Confederation.  To the extent that any such Broker does not comply with the Membership Regulations, to be made pursuant to Article 5A, full compliance therewith must be achieved within one year of the date of incorporation of the Confederation or with effect from the coming into force of such legislation as may be enacted to regulate the activities of insurance agents and/or brokers, whichever is the earlier. XVII. XII. Where a Member is expelled or suspended from membership of the Confederation, a notice of such expulsion or suspension shall be published in one English language and one Chinese language newspaper circulating in Hong Kong and a notice shall be circulated among Members. When a Member fails to pay an annual subscription which becomes overdue, its membership of the Confederation shall be suspended with effect from the fourth Business Day after the due date till either the full payment of the outstanding subscription is made or the decision of the Disciplinary Committee in relation to the matter of non-payment of subscription by the Member taking effect, whichever takes place earlier. To transfer all or part of the property, assets, or liabilities of the Confederation to any other association, society or corporation with which the Confederation is authorised to amalgamate. Under the new insurance intermediary regime, anyone carrying on “regulated … he shall thereupon cease to be such member of the Disciplinary Appeals Committee forthwith save that the General Committee may, in its discretion and only in the case of the person being adjudged a bankrupt, reinstate such person (whether or not such circumstances continue to persist) on such terms as it thinks fit. in the case of Disciplinary Panel B, four or more Committee Members (none of whom shall be the Chairman or the Deputy Chairman of the General Committee). THE SEAL In the event of death, incapacity or resignation of a member of the Disciplinary Appeals Committee, the General Committee shall appoint some other qualified person to act in such person’s place in accordance with Article 35A(b). A notice may be given by or on behalf of the Confederation to any Member either personally or by delivering it or sending it by post to the Member at its address appearing in the Register of Members. Any vacancy thus arising shall be filled by appointment in accordance with Articles 25, 25A and 25B (as applicable). The accidental omission to give notice of a meeting to, or the non-receipt of notice of a meeting by, any person entitled to receive notice shall not invalidate the proceedings at that meeting. "Chief Executive" is an individual who complies at least with the requirements laid down in the Membership Regulations made pursuant to Article 5A and who is registered as a Chief Executive in the Sub-register of Chief Executives and Technical Representatives. XVIII. Where no appeal is brought under this Article or where such an appeal is brought but withdrawn, the direction of the Disciplinary Committee shall take effect on the expiration of the time for appealing or, as the case may be, on the withdrawal of the appeal. No member of the General Committee of the Confederation shall be appointed to any salaried office of the Confederation, or any office of the Confederation paid by fees and no remuneration or other benefit in money or money’s worth (except as provided in sub-clause (5) below) shall be given by the Confederation to any member of the General Committee. A Member, Relevant Person of a Member, a former Member or a former Relevant Person of a Member or of a former Member (“Subject”) who is the subject of an enquiry by the Disciplinary Committee shall have the right to be notified of such enquiry and to make written submissions in relation thereto. The General Committee shall cause minutes to be made:-. WINDING UP remit the case with its opinion back to the Disciplinary Committee (which for the avoidance of doubt may consist of different members from those who constituted the original Disciplinary Committee hearing) for rehearing; cease transacting or engaging itself in transacting insurance broking business, including new businesses and renewals, in or from Hong Kong; in the case of a meeting called as the Annual General Meeting, by all the members entitled to attend and vote at the meeting; and. Himark Insurance Group Limited is a leading insurance intermediary based in Hong Kong focused exclusively in providing insurance for individuals, families and corporations. A Member may not change its name (whether English or Chinese) unless the proposed name of the Member has been approved by the General Committee. Low Premiums. The Investigation Board shall consist of a chairman and two other members, who may not be in any way, whether directly or indirectly, materially interested in respect of a Complaint, where:-. Save as aforesaid it shall not be necessary to give any notice of an adjournment or of the business to be transacted at an adjourned meeting. Nothing herein shall prevent the payment, in good faith, by the Confederation of reasonable and proper remuneration to any officer or servant of the Confederation, or to any member of the Confederation not being a member of the General Committee of the Confederation in return for any services actually rendered to the Confederation. Any member of the Disciplinary Appeals Committee may resign from office by giving prior notice in writing to the General Committee. Service of the notification shall be made by the delivery thereof to the registered address of the Member, Relevant Person of a Member, a former Member or former Relevant Person of a Member or of former Member last known to the Confederation. XXI. Insurance Agents Registration Board T +852 2520 1868 E hkfi@hkfi.org.hk. We use all of our resources, people, experience and courage to deliver outstanding results for all our clients regardless of their … The Disciplinary Appeals Committee shall consist of the Chairman of the Confederation (or in his absence or he being in conflict, the Deputy Chairman of the Confederation shall be his alternate) and two Independent members of whom one shall possess either a legal qualification or a qualification in arbitration and act as Chairman of the Disciplinary Appeals Committee. Established since 2000, our team of licensed insurance brokers industry leading customer service. Any Member ceasing for any reason to be a Member shall be deemed to have surrendered its interest in the Confederation and an entry to that effect in the Register of Members shall be conclusive evidence thereof. Subject to this Memorandum to lay down rules, regulations and by-laws for carrying into effect the objects of the Confederation including rules in respect of admission to membership of the Confederation and exclusion therefrom and authorising members to annex to their names distinctive letters or descriptions indicative of their membership. A resolution to expel or suspend a Member from membership of the Confederation recorded in the minute book of the Disciplinary Committee and signed by the Chairman of the meeting or hearing at which such resolution is made shall be conclusive evidence thereof. The Confederation at the Annual General Meeting at which a Committee Member retires under any provision of these Articles shall fill the vacated office by electing a person thereto, and in default the retiring Committee Member shall be deemed to have been re-elected unless:-, At such meeting it is expressly resolved not to fill such vacated office or a resolution for his re-election is put to the meeting and lost; or. Any person who is in any way, whether directly or indirectly, materially interested in a matter referred to in Article 27 and 28 shall not be eligible to act as a member of the Disciplinary Committee at any meeting or hearing on the reference. IX. The address of a Member stated on its form of application for membership as that to which notices may be sent to such Member shall be entered in the Register of Members by the Registrar and until the Member notifies the Registrar to register a change in its address the address for the time being appearing in the Register of Members kept by the Registrar shall be deemed the address to which all notices may be properly sent notwithstanding any omission in such Register. Subject to sub-clauses (4) and (5) below, no portion of the income and property of the Confederation shall be paid or transferred directly or indirectly, by way of dividend, or otherwise howsoever, to the members of the Confederation. As it states on the organizations logo PIBA was … AUDIT "Membership Regulations" means the regulations established pursuant to Article 5A. In the event that a Member is expelled or suspended from membership of the Confederation pursuant to these Articles, the name of any Chief Executive or director and Technical Representatives of such Member shall also be de-registered or suspended from the Sub-register of Chief Executives and Technical Representatives, as the case may be. the name (in English and Chinese, if any) of each Member, including the current Members and those who have ceased to be Members, and the telephone number, fax number and address of each current Member; the date on which the name of each Member, including the current Members and those who have ceased to be Members, was entered on the register, and for those who have ceased to be Members also the date on which they ceased to be Members; the name (in English and Chinese, if any) of each Chief Executive and Technical Representative, including both the currently registered Chief Executives or Technical Representatives of Members and those who have ceased to be registered as Chief Executives or as Technical Representatives of any Members or those who have ceased to be Members; and. Licensed by the Monetary Authority of Hong Kong and a member of the Hong Kong Insurance Brokers’ Association, we offer over 40 years of experience and professional expertise in the field of general insurance and specialist Financial Instrument and Guarantees for global trade and financing. Any Regulations made by the General Committee may be revoked by special resolution of the Members in general meeting PROVIDED THAT notice of any motion for revocation shall be required in accordance with these Articles as though such motion were special business of the meeting. We first started to transact insurance intermediary business in Hong Kong since 1977. Insurance Agents Registration Board built up under the Hong Kong Federation of Insurers, the Hong Kong Confederation of Insurance Brokers and the Professional Insurance Brokers Association will keep on regulating the insurance intermediaries meanwhile, enabling time for the IA to set up the essential instruments, for example, such as …