EN-6 EN-6 [This Chapter was deleted in April 2019]
EN-6.1 EN-6.1 [This Section was deleted in April 2019]
EN-6.1.1
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Deleted: April 2019
Adopted: January 2007EN-6.1.2
[This Paragraph was deleted in April 2019].
Deleted: April 2019
Adopted: January 2007EN-6.1.3
[This Paragraph was deleted in April 2019].
Deleted: April 2019
Adopted: January 2007EN-6.2 EN-6.2 [This Section was deleted in April 2019]
EN-6.1.1
Subject to the approval of H.E. The Governor, in certain circumstances, the BMA may assume the administration of a licensee. These circumstances are where:
(a) the licensee has become insolvent;(b) the licensee's liquidity or solvency are in jeopardy;(c) the licensee's continued activity is detrimental to the rights of policyholders; or(d) the licensee commits serious contravention of the provisions of theInsurance Legislation or Volume 3 (Insurance).EN-6.1.2
Where the BMA assumes the administration of a licensee, the licensee concerned may appeal to H.E. The Governor and, subsequently, the courts, in order to challenge its administration by the BMA.
EN-6.2.1
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Deleted: April 2019
Amended: January 2007EN-6.2.2
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Deleted: April 2019
Amended: January 2007EN-6.2.3
[This Paragraph was deleted in April 2019].
Deleted: April 2019
Amended: January 2007EN-6.3 EN-6.3 [This Section was deleted in April 2019]
EN-6.3.1
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Deleted: April 2019
Amended: January 2007EN-6.3.2
[This Paragraph was deleted in April 2019].
Deleted: April 2019
Amended: January 2007EN-6.3.3
[This Paragraph was deleted in April 2019].
Deleted: April 2019
Amended: January 2007
