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The Insurance Act, 1938

( ACT NO. IV OF 1938 )

Powers of liquidator
91. (1) A liquidator appointed to wind up a society shall have power-
(a) to institute or defend any legal proceedings on behalf of the society by his name of office;
(b) to determine the contribution to be made by members of the society respectively to the assets of the society;
(c) to investigate all claims against the society and to decide questions of priority arising between claimants;
(d) to determine by what persons and in what proportion the costs of the liquidation including the remuneration of the liquidator and any expenses incurred under clause (g) of this sub-section are to be borne;
(e) to give such directions in regard to the collection and distribution of the assets of the society as may appear to him to be necessary for winding up the affairs of the society;
(f) to summon, and enforce the attendance of, witnesses and to compel the production of documents by the same means and as far as may be in the same manner as is provided in the case of a Civil Court by the Code of Civil Procedure, 1908; and
(g) with the sanction of the Chief Controller of Insurance, to employ such establishment and to obtain such assistance from an actuary or an auditor as may be necessary for the discharge of his duties.
(2) The liquidator shall, for settling the list of contributories and realising the amount of contributions, have the same powers as an official liquidator appointed by the Court for the winding up of a company under the Companies Act, 1913.

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Ministry of Law, Justice and Parliamentary Affairs