1)

The Board shall set a framework for restructuring and liquidating the Companies, including the controls, conditions and rules in this respect to reduce the consequences that may be caused from the imbalance in its financial position.

2)

The CBUAE may request from the relevant authorities in the State to temporarily seize the Company that suffers from an imbalance in its financial position and take possession of its assets, property and rights of its shareholders, issue a decision requesting the competent court to liquidate or dissolve the Company in question, and develop a plan to liquidate or transfer its assets, liabilities, settlements and clearances, as the CBUAE deems appropriate, and implement or supervise the implementation of the liquidation plan, or take a decision on the restructuring or submit a request for a bankruptcy declaration to the competent court, pursuant to the legislation in force in this regard.

3)

The CBUAE may coordinate with the relevant authorities in the State before the Board issues any decisions in accordance with the provisions of this Article, whenever it deems necessary. The CBUAE may request the competent judicial authorities to take precautionary and summary measures and procedures and any other measures that would protect policyholders, creditors, shareholders and their interests, or as dictated by public interest.