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BR-2.2.11

Except in instances where the CBB has initiated the following actions, an insurance licenseeG must notify the CBB immediately of any of the following events:

(a) The calling of a meeting to consider a resolution for winding up the insurance licenseeG , a controllerG or close linkG , including a parent undertakingG of the insurance licenseeG ;
(b) An application to dissolve the insurance licenseeG , a controllerG or close linkG , including a parent undertakingG of the insurance licenseeG or to strike the insurance licenseeG off the Register of Insurance Companies;
(c) The presentation of a petition for the winding up of the insurance licenseeG , a controllerG or close linkG , including a parent undertakingG of the insurance licenseeG ;
(d) The making of any proposals for the making of a composition or arrangement with any one or more of the insurance licensee'sG creditors;
(e) An application for the appointment of an administrator or trustee in bankruptcy to the insurance licenseeG , a controllerG or close linkG , including a parent undertakingG of the insurance licenseeG ;
(f) The appointment of a receiver to the insurance licenseeG , a controllerG or close linkG , including a parent undertakingG of the insurance licenseeG (whether an administrative receiver or a receiver appointed over particular property); or
(g) An application for an interim order against the insurance licenseeG , a controllerG or close linkG , including a parent undertakingG of the insurance licenseeG under the Bankruptcy and Composition Law, Decree Law No (11), 1987 or similar legislation in another jurisdiction.
Amended: April 2010
Amended: January 2007
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(3 Versions)
 
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