51(1)The Superintendent, upon receiving notice of a termination date fixed by the receiver administering the deposit of an insurer, shall forthwith take such action as he may deem advisable in the interests of the insured persons under New Brunswick contracts to give notice of that date to them as soon as is reasonably possible.

51(2)Without restricting the generality of subsection (1), the Superintendent may forthwith require each agent of the insurer in New Brunswick to forward to him a list showing the name and address of each person who has entered into a contract of insurance with the insurer of whom the agent has a record.

51(3)On receipt of each list forwarded by an agent, the Superintendent may send by ordinary mail to each person whose name appears on the list a notice containing the following information:

51(4)The Superintendent in his discretion may publish, broadcast or otherwise communicate or distribute the information contained in the notice, either generally or in any particular area or case, in such manner and by such means as he deems best suited to convey the information to the insured persons as soon as is reasonably possible having regard to all the circumstances.