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(1) Application may be made to the court for the discharge of a judicial management order by the judicial manager, the Commission or by any other interested person.

(2) On an application under subsection (1), the court may discharge the judicial management order where it is satisfied that

(a) the purpose of the order has been fulfilled, or

(b) for a reason it is undesirable that the order should remain in force.

(3) An application under subsection (1) shall be served within the period before the date of the hearing as the court may direct where an application is made

(a) by an interested person, on the judicial manager and the Commission,

(b) by the Commission, on the judicial manager, and

(c) by the judicial manager, on the Commission.

(4) On the discharge of a judicial management order,

(a) the judicial menageries divested of the management of the insurer, or that part of its business in respect of which the judicial manager was appointed, and

(b) the management of the insurer or of its business re-vests m its directors.