Summary cancellation of licence

The Supervisor may at any time cancel an insurance company’s licence under this Act– (a) if proceedings for its winding-up have begun; (b) if he is satisfied that it has not, within one year of its licensing, begun to carry on in Belize insurance business of any class; (c) if he is satisfied that it has ceased to carry on insurance business in Belize for more than one year; or (d) if the insurance company, or its liquidator, judicial manager or trustee so requests.