Judgment
In the Matter of Premier Assurance Group SPC LTD. ( In controllership) ('PAG' or 'The Company')
FSD 0210 OF 2020 (ASCJ) · 2020-Sep-29
Appointment by the Authority of Controllers over the affairs of licensee under the Insurance Law 2010 - need for confirmation by the Court of powers vested in Controllers- whether their appointment effective as against the world at large without confirmation by the Court - jurisdiction of the Court to grant confirmatory and declaratory orders.
Full metadata
| Cause Number | FSD 0210 OF 2020 (ASCJ) |
|---|---|
| Court | Grand Court |
| Judgment Date | 2020-Sep-29 |
| Subject | Appointment by the Authority of Controllers over the affairs of licensee under the Insurance Law 2010 - need for confirmation by the Court of powers vested in Controllers- whether their appointment effective as against the world at large without confirmation by the Court - jurisdiction of the Court to grant confirmatory and declaratory orders. |
| Category | Financial Services Division |
| Filename (current) | 674O9856NT081F1D30DE4B0D38FBDCD482C642B8B9026E6A8010.pdf |
Legislation cited
| Statute | Sections cited | Mentions |
|---|---|---|
| Insurance Act | 13(1)(vii), 2, 24, 24(2), 24(2)(h), 24(4), 24(4)(b), 24(5), 26, 4, 4(1) | 37 |
| Bankruptcy Act | 18 | 18 |
| Banks and Trust Companies Act | 14(1)(d)(v), 18(1)(v) | 4 |
| Companies Act | — | 2 |
| Anti-Money Laundering Regulations (subordinate) | — | 1 |
| Limited Liability Companies Act | — | 1 |
| Limited Liability Partnership Act | — | 1 |
| Monetary Authority Act | — | 1 |
| Mutual Funds Act | 30(3)(e) | 1 |
| Securities Investment Business Act | 17(2A)(h) | 1 |
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