1710
Governor in Council may order delinquent fire insurance companies to be struck off the register. Court may restore the name of company.
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No. 3 of 1908. FIRE INSURANCE COMPANIES.
(4) Every officer or agent who refuses to produce any book or document hereby directed to be produced or to answer any question relating to the affairs of the company shall upon summary conviction be liable to a fine not exceeding fifty dollars.
4.-(1) On the conclusion of the examination, the inspector shall report his opinion to the Colonial Secretary, and, if it shall appear to the satisfaction of the Governor in Council from such report that such company is unable to meet its liabilities and pay its debts, the Governor in Council may authorise the Registrar to strike such company off the register of companies.
(2) The Registrar shall forthwith strike the name of such company off the register and shall publish notice thereof in the Gazette, and on such publication the company whose name is so struck off shall be dissolved: Provided that the liability, if any, of every director, managing officer, and member of the company shall continue and may be enforced as if the company had not been dissolved.
(3) A copy of such notice shall be sent to such company and may either be sent by post or be delivered by hand addressed to the company at its registered office, or, if no office has been registered, addressed to the care of some director or officer of the company, or, if there is no director or officer of the company whose name and address are known to the Registrar, the notice may be sent or delivered to each of the persons who subscribed the memorandum of association, addressed to him at the address mentioned in that memorandum.
(4) In the execution of his duties under this section, the Registrar shall conform to any regulations made by the Governor in Council.
5. If any company or member or creditor thereof feels aggrieved by the name of such company having been struck off the register in pursuance of section 4, the company or member or creditor may apply to the court, and the court, if it is satisfied that the company is able to meet its liabilities and pay its debts or otherwise that it is just to do so, may order the name of the company to be restored to the register,
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As amended by Law Rev. Ord., 1924.