Section 62, The Insurance Act, 2000

The Commissioner may apply to the Court for the winding-up of any insurer on the following grounds— [Margin: Winding-up.] (a) that a period of more than six months has elapsed since the cancellation of the insurer's registration; 38 No. 5 Insurance Act 2000 (b) that it appears from the returns furnished under this Act or from the results of any investigation made under it that the company is insolvent; (c) that the insurer is deemed to be insolvent under section 61; o (d) that the continuance of the company is prejudicial to the interest of policy-holders.