71. Confirmation of schemes

( 1)

Before an application is made to the High Court for confirmation of a scheme under section 70 -

{a} a copy of the scheme shall be lodged with the Authority, together with copies of the actuarial and other reports, if any, upon which the scheme is founded;

not earlier than one month after the copy is so lodged, notice of the intention to make the application (containing such particulars as are prescribed) shall be published in the Gazette and in not less than 2 newspapers approved by the Authority; and

The Authority may cause a report on the scheme to be made by a qualified actuary independent of the parties to the scheme and, if it does so, shall cause a copy of the report to be sent to each te eaea of the insurers concerned.

Copies of the scheme and any report as is mentioned in paragraph (a} of subsection,t ( 1) or in subsection (2), or summaries approved by the Authority of the scheme and of any such report, shall except in so far as the High Court upon an application made in that behalf otherwise directs, be transmitted by the insurers concerned, at least 15 days before the application is made for confirmation of the scheme, to every policy owner affected by the scheme.

An application to the Court with respect to any matter connected with the scheme may, at any time before confirmation by the Jtourt, be made by the

The Court may confirm the scheme without modification or subject to modifications agreed to by the insurers concerned, or may refuse to confirm the scheme.

The insurersconcerned shall be jointly and severally liable to reimburse to the Authority any expenses incurred by him under this section in connection with any scheme or proposed scheme (subject to any order of the Court as to 1049