You are viewing the translated version of Na.
Section 111
NA
(1) No one shall obstruct or interfere with the work of the Special Management Group.
(2) If any person commits or causes any act contrary to sub-section (1), the special management group may request the necessary assistance from the concerned administration or the police. (3) If there is a request according to sub-section (2), the relevant body shall arrange the necessary security arrangements so that the special management group can easily control and work on the office, property, 8 records, bookkeeping and information technology system of such insurer.
(4) The party aggrieved by the action taken by the special management group or the authority in accordance with this paragraph may file an application before the High Court within two and a half days from the date of the special management group's submission of a report to the authority or the dissolution of the special management group for any reason.
(5) The High Court may award monetary compensation to the aggrieved party in the following cases: "
(a) In the course of the management of the seized insurer, in the event of any act exceeding the jurisdiction,
(b) For not completing the process of conversion in accordance with this Act,
(c)/ For taking action of the management of the seized insurer without sufficient basis and reason.
(6) The special management group shall exercise its powers in accordance with this Act in a transparent and fair manner in such a way as to benefit the insured and other related parties.
(7) Regardless of what is written in the prevailing law, the directors and officers of the relevant insurers in the process of implementing the decision of the authority or the special management group in order to support the management process of the insurers taken under the control of the authority; No insured, shareholder or creditor shall be entitled to file any suit against any act done.