Section 67: Insufficient assets
consolidated text (as at 2016, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
67. Insufficient assets
Where the Commission finds that the assets of an insurer whose voluntary winding up has been authorised shall not be sufficient for the full discharge of all its obligations or that completion of the voluntary winding up is
unduly delayed, it may petition the Court for a winding up of the insurer under section 68 and for the appointment of a liquidator.
Sub-Part C – Winding Up by Court
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Questions this section answers
- What happens if my insurer's voluntary winding up doesn't have enough assets to pay everyone?