Insurance Ordinance

Where before the presentation of a petition for the winding up of an authorized insurer by the Court, and whether or not the petition is presented by the Authority, there has in respect of the insurer been a direction given under
section 35(2
)(
b)
which has continued in force at all times until the presentation of the petition, and a winding up order is made thereon, then, notwithstanding the provisions of
section 184(2)
of CWUMPO, for the purposes of
sections 170
,
179
,
182
,
183
,
266B
,
267A
,
269
and
274
, and paragraphs (d), (e), (h), (i), (j), (k), (l) and (o) of
section 271(1)
, of CWUMPO, the winding up of the insurer by the Court is deemed to have commenced at the time the direction was so given.
(Amended
12 of 2015 s. 2
)