Decision of Court on report of judicial manager

(1) The Court shall, on hearing an application made under (a) after hearing the Supervisor, the Judicial Manager, and any other person who in the opinion of the Court ought properly to be heard; and (b) after considering the report of the Judicial make an Order giving effect to the course which it considers in the circumstances to be most advantageous to the general interest of the policyholders of the company. (2) The Order of the Court shall be binding on all persons, and shall have effect notwithstanding anything in the instruments constituting the company or in the articles of association or other rules of the company.