  
  
S/C/N/8 74/Add.1  
27 September 2019 
(19-6237) Page: 1/2 
Council for Trade in Services  Original:  English  
 
  NOTIFICATION PURSUANT TO ARTICLE III:3 OF THE   
GENERAL AGREEMENT ON TRADE IN SERVICES  
 
Addendum  
The following communication, dated 25 September 2019, is being circulated at the request of the 
delegation of Hong Kong, China.  
 
_______________  
 
 
Since the is suance of the GATS Article III:3 notification by Hong Kong, China contained in 
document S/C/N/874, dated 3 February 2017, the implementation dates of the new insurance 
regulatory regime have been finalised.   
 
Accordingly, Headings 3, 4, 5 and 7 of the not ification now read:  
 
 
3 DATE OF ENTRY INTO FORCE  
The implementation of the Insurance Companies (Amendment) Ordinance 2015 ( “the Amendment 
Ordinance ”) is by phases:  
(a)  Phase 1: on 7 December 2015, an independent Insurance Authority ( “IA”) was 
established and renamed as  the Provisional Insurance Authority  (“PIA”) to undertak e 
essential preparatory work ; 
(b) Phase 2: on 26 June 2017, PIA w as renamed as IA to take over the functions of the 
then Office of the Commissioner of Insurance ( “OCI”) as the prudential  regulator of 
insurers; and  
(c)  Phase 3: on 23 September 2019, IA implement ed the new statutory licensing regime 
and take over the regulation of insurance intermediaries from the three Self -regulatory 
Organizations (“SROs”) . 
Duration  
Indefinite  
 
4 AGENCY RESPONSIBLE FOR ENFORCEMENT OF THE MEASURE  
OCI (Phase 1) / IA (Phases 2 and 3)  
 
 
5 DESCRIPTION OF THE MEASURE  
Enacted on 10 July 2015, t he Amendment Ordinance provides for, among other things, the 
establishment of independent IA for taking over the duties of the OCI and the three SROs , and 
exercise new statutory powers to license and regulate insurance intermediaries.  S/C/N/874/Add.1  
 
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7 TEXTS AVAILABLE FROM  
The Amendment Ordinance:  
http://www.gld.gov.hk/egazette/pdf/20151929/es12015192912.pdf  
 
Commencement Notice for Phase 1: 
https://www.gld.gov.hk/egazette/pdf/20151941/es220151941198.pdf  
 
Commencement Noti ce for Phase 2: 
https://www.gld.gov.hk/egazette/pdf/20172116/es22017211671.pdf  
 
Commencement Notice for Phase 3: 
https://www.gld.gov.hk/egazette/pdf/20192320/es22019232077.pdf  
 
  
 
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