In forceAs enactedCurrent version · As enactedSee versions on Attorney General's Chambers(opens the publisher’s site)
Securities Markets Order, 2013 · As enacted · Part X · Intervention Powers of Authority
Securities Markets Order, 2013 · As enacted · Part X · Intervention Powers of Authority
Official textFrom Attorney General's Chambers, unchanged
On a petition presented by the Authority by virtue of this section, the
Court may wind up a regulated person to whom this section applies if -
the regulated person is unable to pay his debts; or
the Court is of the opinion that it is just and equitable that the regulated person should be wound up.
Subsection (1) applies to any regulated person including collective investment schemes and any person whose licence has been suspended by the
Authority.
For the purposes of a petition under subsection (1), a person who defaults in an obligation to pay any sum due and payable under any investment agreement shall be deemed to be unable to pay his debts.
Part XI
Part XII
Part XIII