Cancellation of contracts or agreement by Court

The Court may, either on its own motion or on the application of the Judicial Manager, at any time while an Order made under section 57 is in force with respect to a company, after hearing all persons who, in the opinion of the Court, are entitled to be heard, cancel or vary, either unconditionally or subject to such conditions as the Court thinks just, any contract or agreement other than a policy between the company and any other person, which the Court is satisfied is detrimental to the interest of the policyholders.