Section 26Part 4 — POWERS AND DUTIES OF THE AUTHORITY
Preservation of assets, etc.
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In any case where the Authority has exercised its powers under section 24, the Authority may apply ex parte to the Grand Court for an order that the assets, books or papers of the licensee be preserved, not moved or otherwise disposed of and the Grand Court may, if it is satisfied that the assets, books or papers are liable to be moved, destroyed or otherwise disposed, of make an order that they shall be preserved, and not be moved or otherwise disposed of until a further order of that Court.
Where an order has been made by the Grand Court under subsection (1), the licensee may apply to the Grand Court at any time for the discharge of the order and the Grand Court may thereupon discharge, vary or confirm the order.
Cross References
- Section 24 of Insurance Law
Reference to powers exercised in section 26(1)