Section 108: Provisions After the Achievement of Improvement in Condition of the Insurer

If it is felt that improvement is seen in the condition of the Insurer taken under the control by the Special Administration Team it may take following actions:

(a) To release the suspension of the suspended Board of directors,

(b) To hand over the management of the insurer to the Board of Directors of the insurer,

(c) To form a new Board of directors amongst the shareholders of the Insurer and provide instruction to convene the General Meeting within six months,

(d) To convene a General meeting of the Insurer and form a new Board of Directors.