26. (1)

An insurer which has, or a director of an insurer who has, prior to the commencement of this Order, entered into a transaction or has an interest contrary to the provisions of section 24 or 25, shall within 2 months of such commencement, submit a statement of that transaction or interest to the

Authority and that insurer or director, as the case may be, shall further within that time or such further time as the Authority may specify, liquidate the transaction, cease to have the interest, or comply with the provisions of those sections, and dispose of any property or right that may have been acquired or interest that may have been held.

Any person who fails to comply with the provisions of subsection (1)