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).