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INDUSTRIAL ASSURANCE (NORTHERN IRELAND) ORDER 1979 - SECT 18

18.(1) If, in the opinion of the Commissioner, there is reasonable cause to
believe that in the case of any industrial assurance company an offence
against this Order, or against the [Insurance Companies Act 1974], has been or
is likely to be committed, the Commissioner, or any inspector appointed by him
with the approval of the Head of the Department for the purpose, may
investigate and report on the affairs of the company, and, for that purpose
may exercise all or any of the powers conferred by subsection (6) of
section 76 of the Friendly Societies Act on an inspector appointed under that
section.

(2) Where the Commissioner holds an investigation pursuant to paragraph (1) or
receives the report of an inspector appointed under that paragraph, the
Commissioner may issue such directions and take such steps as he considers
necessary or proper to deal with the situation disclosed by the investigation
or report, and, in particular, may present a petition to the court for the
winding-up of the industrial assurance company.

(3) The Commissioner may, if he considers it just, direct that all or any of
the expenses of, and incidental or preliminary to, an investigation under this
Article shall be defrayed out of the funds of the company, or by the officers
or former officers or board of directors of the company, or any of them, in
such proportions as the Commissioner directs, and sums directed by the
Commissioner to be so paid shall be recoverable summarily by him as a civil
debt.

(4) Any industrial assurance company or person directed to pay any part of any
such expenses as are mentioned in paragraph (3) may, with the leave of the
High Court, appeal against the direction to that Court.

© 1979 Crown Copyright

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