Part 2 — Provincial Companies Subpart 1 Status and Powers of Provincial Companies
190 Court supervision - involuntary liquidation
referred to in subsection (2), apply to the Court for an order
directing that a provincial company be wound up subject to the
supervision of the Court in accordance with this section and
sections 192 to 203.
(2) The Court may so order and make any further order it sees fit if
the Court is satisfied that
(a) the company has failed to ex ercise its corporate powers for
any continuous period of 4 years,
(b) the company has not commenced business or gone into
actual operation within 4 years after it was incorporated,
RSA 2000
(c) the company has discontinued business for one year after it
has undertaken insurance contracts within the meaning of
this Act,
(d) the company's licence has been suspended for one year or
more,
(e) the company has contravened this Act or the regulations and
it is in the public interest that the company be wound up, or
(f) other sufficient cause has been shown.
1999 cI-5.1 s190