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  • EN-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 the Insurance 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

      [This Paragraph was deleted in April 2019].

      Deleted: April 2019
      Amended: January 2007

    • EN-6.2.2

      [This Paragraph was deleted in April 2019].

      Deleted: April 2019
      Amended: January 2007

    • EN-6.2.3

      [This Paragraph was deleted in April 2019].

      Deleted: April 2019
      Amended: January 2007