Registered Agents and Trustees Licensing Order, 2000 · s 29

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s 29

(1)

A licensee who has ceased to carry on the business to which his licence relates shall forthwith apply to the Authority to surrender his licence.

(2)

On an application under subsection (1) the licensee shall produce such evidence as the Authority may require that he has transferred or otherwise disposed of all client property and any property vested in, held or controlled by him in the conduct of his international trust business according to the instructions of the person or persons who is or are authorised to give such instructions and in the case of a company or other corporate entity, it is being wound-up voluntarily and that it is solvent and is able on demand to repay all its creditors.

(3)

On receipt of an application duly made under subsection (I) and after being furnished with all such evidence as he may require under subsection (2), the

Authority may approve the surrender.

Suspension of licence.