Section 44.
[F1SCHEDULE 4N.I.LIQUIDATOR'S DUTIES AS TO VALUATION OF LIABILITIES
F1Rep. with saving, 1973 c. 58; 1976 NI 3; 1980 c. 25
Where an insurance company to which this Act applies is being wound up by the court or subject to the supervision of the court, the liquidator, in the case of all persons appearing by the books of the company to be entitled to or interested in policies granted by the company, shall—
(a)ascertain the value of the liability of the company to each such person, and
(b)give notice of that value to such persons in such manner as the court may direct,
and any person to whom notice is so given shall be bound by the value so ascertained unless he gives notice of his intention to dispute that value in the manner and within a time to be prescribed by a rule or order of the court.]