An Act Respecting the Winding Up of Judgment Recovery (P.E.I.) Ltd.

c t AN ACT RESPECTING THE WINDING UP OF JUDGEMENT RECOVERY (P.E.I) LTD. PLEASE NOTE This document, prepared by the Legislative Counsel Office, is an office consolidation of this Act, current to December 15, 2016. It is intended for information and reference purposes only. This document is not the official version of the Act. The Act and the amendments as printed under the authority of the King’s Printer for the province should be consulted to determine the authoritative statement of the law. For more information concerning the history of this Act, please see the Table of Public Acts on the Prince Edward Island Government web site (www.princeedwardisland.ca). If you find any errors or omissions in this consolidation, please contact: Legislative Counsel Office Tel: (902) 368-4292 Email: legislation@gov.pe.ca An Act Respecting the Winding Up of Judgement Recovery (P.E.I) Ltd. Section 1 c AN ACT RESPECTING THE WINDING UP OF JUDGMENT RECOVERY (P.E.I.) LTD. CHAPTER A-10.2 WHEREAS Judgment Recovery (P.E.I.) Ltd. was incorporated under An Act to Incorporate Judgment Recovery (P.E.I.) Ltd. 1961, Cap. 21, with objects related to indemnifying claimants for damages arising from automobile accidents involving uninsured or underinsured persons and seeking judgments for those damages; AND WHEREAS the Facility Association is an association of insurers responsible to administer a plan established pursuant to subsection 21(1) of the Insurance Act, R.S.P.E.I. 1988, Cap. I-4, to provide payment for claims for damages made by persons who are not insured or have inadequate insurance to cover damages claimed, in accordance with sections 245.1 to 245.993 of the Act; AND WHEREAS any rights as a judgment creditor and all outstanding liabilities of Judgment Recovery (P.E.I.) Ltd. have been assigned to or assumed by the Facility Association; THEREFORE BE IT ENACTED by the Lieutenant Governor and the Legislative Assembly of the Province of Prince Edward Island as follows: 1. Subsections 10(2) and (3) of An Act to Amend the Insurance Act S.P.E.I. 1994, Cap. 27, are repealed. 2. Section 245.1 of the Insurance Act R.S.P.E.I. 1988, Cap. I-4, is amended (a) by the repeal of subsection (1); and (b) in subsection (2), by the deletion of the words “and who has other insurance that is inadequate” and the substitution of the words “or who has other insurance that is inadequate”. 3. An Act to Incorporate Judgment Recovery (P.E.I.) Ltd. 1961, Cap. 21, is repealed. c t Current to: December 15, 2016 Page 3