Motor Vehicles Act, 1988
(1) For the purposes of section 150,151 and 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. (2) The provisions of section 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. Corresponding Law. - Section153 correspondstosection ofthe Motor Vehicles Act, 1939. Objects and Reasons. - Clause lays downthatthe liabilityofthe insurer will be only in respect of that particular policy alone andnot in respect of any other policy of insurance.