164Assignment of licences

#### 164 Assignment of licences 164 Assignment of licences (cf s 106A MAA) > > (1) A licensed insurer may, with the approval of the Authority, assign its licence to another licensed insurer or to a corporation to whom the Authority proposes to grant a licence. > > > (2) The Authority must not approve the assignment of a licence unless the Authority is satisfied that the proposed assignee is able to meet the past, present and future liabilities of the assignor— > > > > > (a) under any third-party policy in respect of which the assignor is the insurer, and > > > > > (b) to the Motor Accidents Operational Fund, and > > > > > (c) to any other licensed insurer. > > **s 164:** Am 2015 No 19, Sch 7 \[13\].