Liquidation of protected cell companies

Notwithstanding any statutory provision or rule of law to the contrary, in the liquidation of a protected cell company, the liquidator, (a) shall be bound to deal with the protected cell company’s assets in accordance with the requirements set out in section 3 (2) (a) and (b) of this Act; and 15 (b) in discharge of the claims of creditors of the protected cell company, shall apply the protected cell company’s assets to those entitled to have recourse thereto in conformity with the provisions of this Act.