22. Reservation of deposits

The deposit made by an insurer shall be deemed to be part of the assets of the insurer, but shall not —

be capable of being transferred or assigned or of being encumbered with any mortgage or other charge by the insurer or be liable to seizure in execution of any decree ; or

be available for the discharge of any liability of the insurer, except for the discharge in the event of the winding up of the insurer, of liabilities arising out of policies of insurance business issued by the insurer and remaining undischarged.