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Section 104
(1) The special management group formed in accordance with section
103 may exercise all the rights that the general assembly of the insurer, the board of directors, the executive head or other officials can exercise. (2) Subject to sub-section (1), the special management group shall have the following powers in relation to managing the movable and immovable assets of the respective insurer, transferring any assets and liabilities and taking all necessary measures to protect and take care of the assets of the insurer/operating the said insurer: -
(a) to transfer or transfer any or all shareholder shares or other instruments issued by the insurer in the name of any other person or entity as prescribed,
(b) To acquire, sell, office, bookkeeping, some or all of the property of the insurer or the subsidiary company of the insurer. To maintain or control access to records, assets and information systems,
(c) to acquire or sell the assets or rights of the Insurer in any other person or entity of the Insurer,
(d) To transfer certain rights and obligations of the insurer to another person,
(e) To sell outstanding shares of the insurer,
(f) to liquidate some or all of the shares and other financial instruments issued by the insurer,
(g) To issue shares or other instruments relating to capital, (h) To transfer some or all types (portfolio) of insurance business carried on by an insurer to another insurer,
(i) To order the submission of documents deemed necessary for the operation of the special management group from the relevant person or organization,
(h) To do necessary work to protect the rights and interests of the insured.
(3) According to this section: while managing, the special management group shall seek the approval of any person or organization in the public or private sector, including the founder, shareholder, insured, insurance intermediary of the insurer, or as otherwise mentioned in this paragraph (except to inform any person, firm, company or organization) There is no need to do so (4) Special: The Management Group may perform or cause to be performed the following functions on behalf of the Insurer:-
(a) to carry on the business of the insurer andTo do all the work necessary to continue,
(b) to suspend or discontinue some or all of the activities undertaken by the insurer,
(c) to withhold or limit the payment of insurance risks or insurance liabilities,
(d) To appoint necessary employees, officials or consultants for the insurer, (e) To call a meeting of shareholders, insured, insurance mediators, employees or officials to discuss and decide on matters deemed necessary,
(f) any legal on behalf of the Insurer: to defend or litigate,
(G) To do or cause other necessary work related to the work of the insurer.
(5) If the special management group deems it appropriate to merge or merge the insurer under its control, it shall make a proposal to the authority along with the reasons thereof.
(6) Regardless of what is written in the prevailing law, the special management (group) may adopt one or more methods such as auction, sealed offer, negotiation in a transparent and commercial manner by determining the basic minimum price as specified when selling the assets of the insurer.
(7) The special management group shall submit to the authority from time to time the details including the financial statement, the plan for the sale of assets of the organization and its approach to the same, the forecast of the organization's liabilities or the method of payment thereof, the actual transfer of assets and the estimation of liabilities.
(8) If the special management group deems it necessary to perform tasks such as sale of assets, collection of assets, forecasting of liabilities, it may entrust any agency or company that can perform such tasks.
(9) All the expenses incurred by the special management group in carrying out the work assigned to it in accordance with this section shall be borne by the insurer and the limit of such expenses shall be as determined by the authority.
(a) to transfer or transfer any or all shareholder shares or other instruments issued by the insurer in the name of any other person or entity as prescribed,
(b) To acquire, sell, office, bookkeeping, some or all of the property of the insurer or the subsidiary company of the insurer. To maintain or control access to records, assets and information systems,
(c) to acquire or sell the assets or rights of the Insurer in any other person or entity of the Insurer,
(d) To transfer certain rights and obligations of the insurer to another person,
(e) To sell outstanding shares of the insurer,
(f) to liquidate some or all of the shares and other financial instruments issued by the insurer,
(g) To issue shares or other instruments relating to capital, (h) To transfer some or all types (portfolio) of insurance business carried on by an insurer to another insurer,
(i) To order the submission of documents deemed necessary for the operation of the special management group from the relevant person or organization,
(h) To do necessary work to protect the rights and interests of the insured.
(3) According to this section: while managing, the special management group shall seek the approval of any person or organization in the public or private sector, including the founder, shareholder, insured, insurance intermediary of the insurer, or as otherwise mentioned in this paragraph (except to inform any person, firm, company or organization) There is no need to do so (4) Special: The Management Group may perform or cause to be performed the following functions on behalf of the Insurer:-
(a) to carry on the business of the insurer andTo do all the work necessary to continue,
(b) to suspend or discontinue some or all of the activities undertaken by the insurer,
(c) to withhold or limit the payment of insurance risks or insurance liabilities,
(d) To appoint necessary employees, officials or consultants for the insurer, (e) To call a meeting of shareholders, insured, insurance mediators, employees or officials to discuss and decide on matters deemed necessary,
(f) any legal on behalf of the Insurer: to defend or litigate,
(G) To do or cause other necessary work related to the work of the insurer.
(5) If the special management group deems it appropriate to merge or merge the insurer under its control, it shall make a proposal to the authority along with the reasons thereof.
(6) Regardless of what is written in the prevailing law, the special management (group) may adopt one or more methods such as auction, sealed offer, negotiation in a transparent and commercial manner by determining the basic minimum price as specified when selling the assets of the insurer.
(7) The special management group shall submit to the authority from time to time the details including the financial statement, the plan for the sale of assets of the organization and its approach to the same, the forecast of the organization's liabilities or the method of payment thereof, the actual transfer of assets and the estimation of liabilities.
(8) If the special management group deems it necessary to perform tasks such as sale of assets, collection of assets, forecasting of liabilities, it may entrust any agency or company that can perform such tasks.
(9) All the expenses incurred by the special management group in carrying out the work assigned to it in accordance with this section shall be borne by the insurer and the limit of such expenses shall be as determined by the authority.