1436

(a) Notwithstanding any contrary provision of this title, the rules and regulations promulgated thereunder, or any other applicable law or regulation, upon any order of conservation, rehabilitation, or liquidation of a Protected Cell Company, the receiver shall be bound to deal with the Protected Cell Company’s assets and liabilities, including Protected Cell Assets and Protected Cell Liabilities, in accordance with the requirements set forth in this subchapter.\n(b) With respect to amounts recoverable under any insurance securitization or reinsurance transaction entered into or outstanding in any Protected Cell Company the amount recoverable by the receiver shall not be reduced or diminished as a result of the placement under an order of conservation, rehabilitation, or liquidation of a Protected Cell Company or any of its Protected Cells, notwithstanding any provisions to the contrary in the financial instrument governing such securitization, insurance or reinsurance transaction.