30B. Finance company under control of Minister

Where the Minister has assumed control of the business of a finance company under section 30. the finance company shall submit its business into the control of the Minister; and shall provide the Minister with such facilities as it may require to carry on the business of the finance company.

Where the Minister has assumed control of the business of a finance company under section 30. the Minister shall remain in control of, and continue to carry on the business of. that finance company in the name and on behalf of the finance company until such time as he is satisfied that -

Where the Minister has assumed control of the business of a finance company under section 30 or has ceased to control the business of such a finance company under this section, the Minister shall provide public notification of that fact in the Gazette and such newspaper as he considers appropriate.

A finance company which fails to comply with subsection (1) or with any requirement of the Minister thereunder is guilty of an offence and liable on conviction to a fine not exceeding $100,000 and. in the case of a continuing offence, to a further fine not exceeding $10,000 every day during which the offence continues after conviction.