In forceAs enactedCurrent version · As enactedSee versions on Attorney General's Chambers(opens the publisher’s site)
Registered Agents and Trustees Licensing Order, 2000 · As enacted · Part II
Registered Agents and Trustees Licensing Order, 2000 · As enacted · Part II
Official textFrom Attorney General's Chambers, unchanged
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.
the Authority
"the Authority" means such person or body as is appointed by His Majesty the Sultan and Yang Di-Pertuan to be the Authority for the purposes of this Order;
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.
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.
the Authority
"the Authority" means such person or body as is appointed by His Majesty the Sultan and Yang Di-Pertuan to be the Authority for the purposes of this Order;