Motor Vehicles Act Section 154 — Saving in respect of sections 151, 152 and 153
CHAPTER IX MOTOR VEHICLES TEMPORARILY LEAVING OR VISITING INDIA
Civil
Summary
Sub-section (1) clarifies that when sections 151, 152 and 153 talk about "liabilities to third parties" for a person who is insured under a policy, this does not include any liability that the person has as an insurer under a different policy. In other words, if someone is themselves an insurance company and has their own insurance, the liabilities they owe as an insurer to their own policyholders are not treated as third-party liabilities for the purpose of those sections.
Sub-section (2) states that sections 151, 152 and 153 do not apply when a company is wound up voluntarily only for the purpose of reconstruction or merging with another company. So, if a company is closed down just to reorganise or combine with another company, the rules in those sections are not triggered.
Official Text
(1) For the purposes of sections 151, 152 and 153, 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.
(2) The provisions of sections 151, 152 and 153 shall not apply where a company is wound-up voluntarily merely for the purposes of reconstruction or of an amalgamation with another company.