Motor Vehicles Act, 1988
153. Saving in respect ofsections150, 151and152 Saving in respect of sections, 151and 152.
For the purposes of sections 150, 151and 152 a reference to "liabilities to third parties" in relation to a person insured under any policy of insurance shall not include a reference to any liability of that person in the capacity of insurer under some other policy of insurance.
The provisions of sections 150 151 and 152 shall not apply where a company is wound up voluntarily merely for the purposes of reconstruction or of an amalgamation with another company.