Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsReturn of deposits
| 14. Where the Controller is satisfied that an insurer has ceased to carry on in Ceylon any class of insurance business in respect of which a deposit has been made under section 12 and that its liabilities in Ceylon in respect of business of that class have been satisfied or are otherwise provided for, the Controller shall, on the application of the insurer, order the return to the insurer of so much of the deposit as may not be required under section 12 for the purposes of any other class of insurance business which the insurer may carry on thereafter: Provided, however, that no such order shall be made in relation to any class of insurance business until after the expiration of two years from the date of the last policy of insurance of that class issued by the insurer. |