Section 91: Priority of deposit liabilities

91. Priority of deposit liabilities Subject to section 92, where a financial institution becomes unable to meet its obligations or becomes insolvent or suspends payment, the assets of the financial institution in Mauritius shall be available to meet all deposit liabilities of the financial institution in Mauritius, and those deposit liabilities shall have priority over all unsecured liabilities of the financial institution other than those expenses and debts specified in the Insolvency Act to have priority of claim over all other liabilities of the company in the event of a winding up. [S. 91 amended by s. 3 (m) of Act 10 of 2010 w.e.f. 24 December 2010.]