42(1)An insurer having made a deposit is entitled to withdraw the same, with the sanction of the Minister, whenever it is made to appear to the latter that the insurer has made a reciprocal deposit under this Act.

42(2)An insurer that has ceased to transact business in the Province and desires to obtain a return of its deposit may give written notice to that effect to the Superintendent, and shall publish in The Royal Gazette a notice that it has applied to the Lieutenant-Governor in Council for the return of its deposit, calling upon all claimants, contingent or actual, who object to the return, to file their objections with the Superintendent on or before a day named in the notice, which shall not be less than three months after the first publication of it.

42(3)Upon giving the notice to the Superintendent the insurer shall file with him a list of all its outstanding contracts, including contracts in respect of which claims have accrued.

42(4)After the day named in the notice, if the Superintendent is satisfied that the insurer has obtained discharges of all such outstanding contracts, and has paid all fees and taxes owing to the Crown, the Lieutenant-Governor in Council may direct that the deposit be returned.

42(5)If the Superintendent is not satisfied that all such contracts have been discharged, or fees and taxes paid, the Lieutenant-Governor in Council may direct that a sufficient amount be retained to meet the contracts unprovided for and that the remainder of the deposit be returned, and thereafter as such contracts lapse or proof is adduced that they have been satisfied, he may direct additional returns of the deposit.

42(6)Where the deposit is, by virtue of reciprocal legislation in another province, held for the benefit of policy holders resident in such province, the insurer shall also give the notice to the Superintendent of Insurance or Minister in charge of the Department of Insurance in that province and shall publish the notice in the official gazette of that province.

42(1)An insurer having made a deposit is entitled to withdraw the same, with the sanction of the Minister, whenever it is made to appear to the latter that the insurer has made a reciprocal deposit under this Act.

42(2)An insurer that has ceased to transact business in the Province and desires to obtain a return of its deposit may give written notice to that effect to the Superintendent, and shall publish in The Royal Gazette a notice that it has applied to the Lieutenant-Governor in Council for the return of its deposit, calling upon all claimants, contingent or actual, who object to the return, to file their objections with the Superintendent on or before a day named in the notice, which shall not be less than three months after the first publication of it.

42(3)Upon giving the notice to the Superintendent the insurer shall file with him a list of all its outstanding contracts, including contracts in respect of which claims have accrued.

42(4)After the day named in the notice, if the Superintendent is satisfied that the insurer has obtained discharges of all such outstanding contracts, and has paid all fees and taxes owing to the Crown, the Lieutenant-Governor in Council may direct that the deposit be returned.

42(5)If the Superintendent is not satisfied that all such contracts have been discharged, or fees and taxes paid, the Lieutenant-Governor in Council may direct that a sufficient amount be retained to meet the contracts unprovided for and that the remainder of the deposit be returned, and thereafter as such contracts lapse or proof is adduced that they have been satisfied, he may direct additional returns of the deposit.

42(6)Where the deposit is, by virtue of reciprocal legislation in another province, held for the benefit of policy holders resident in such province, the notice shall also be given to the Superintendent of Insurance or Minister in charge of the Department of Insurance in that province and shall be published in the official gazette of that province.