S.L. 403.13 Art. 10When contributions are still to be made.

(1) Notwithstanding any provisions of these regulations, if the Management Committee is required to make any payment or to incur any other expenditure under any provision of Part III or Part

IV at a time when the funds available to it for expenditure under that provision, together with any other funds which are available to it from other sources, including funds borrowed in terms of regulation 4(1) and which might be applied to such expenditure, fall short of what is prescribed or required, the Committee may then, in such a case, request every insurer to make good the shortfall by such amount and within such time as it may determine, subject to the provisions of regulation 7(2) and (3).

(2) The Management Committee shall notify the competent authority where an insurer fails to comply with the obligations imposed on it under subregulation (1) and the competent authority shall take all measures appropriate including the imposition of an administrative penalty of the amount determined in regulation 8(4), to ensure that the insurer meets such obligations.