Full legislation
s.38C
Court of First Instance may approve certain resolutions
(1)
During the period for which a direction given under
section 35(2
)(
b)
is in force in respect of an authorized insurer, the Court of First Instance may, on the application of the Manager or any member of the insurer, approve or refuse to approve any resolution referred to in
section 38A(3
)(
b)
which has been properly moved at a meeting of the insurer but which has not, for whatever reason, been passed.
(Amended
25 of 1998 s. 2
)
(2)
On the hearing of an application under subsection (1
)—
(a)
the Authority; and
(b)
the Manager and any member of the insurer concerned (and whether or not the Manager or any such member is the applicant),
shall be entitled to be heard on the application and to call, examine and
cross-
examine any witness and, if the Authority, the Manager or the member of the insurer so thinks fit, support or oppose the making of the application.
(Amended
12 of 2015 s. 2
)
(3)
In this section,
meeting
(
會議
), in relation to
an
authorized insurer, means any general meeting of
the members of the insurer.