Mutual Funds Order, 2001 · s 31

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s 31Where

(a)

circumstances exist as regards a registered fund which would require the

Authority to give a direction under section 29 as regards the fund;

(b)

the High Court has jurisdiction to wind up or dissolve the fund under any provisions of the written law; and

(c)

after consultation with the Minister, it appears to the Authority that it is in the interest of the participants in the fund, the public interest or in both such interests that the fund should be wound up or dissolved by the

High Court, the Authority, in lieu of giving a direction under section 29 as regards that fund, may, on the ground that it is just and equitable that it be so wound up, petition the

High Court to wind it up under the appropriate provisions of that written law.