(1) Subject to the provisions of this section, if, in relation to a registered unit trust scheme -
(a) there is a contravention of a provision of this Act or of an order thereunder,
(b) the conditions specified in paragraphs (b), (c) and (f) of section 3(1) of this Act are no longer fulfilled, or
(c) the Minister is no longer satisfied in respect of the matters specified in paragraphs (a), (d), (e) and (g) of the said section 3(1),
the Minister may direct the registrar to cancel the registration of the scheme in the register upon a day specified in the direction, and the registrar shall comply with the direction.
(2) Whenever the Minister proposes to give a direction under this section in relation to a unit trust scheme -
(a) he shall notify the manager and the trustee under the scheme of his proposal and of the reasons therefor and that the manager or the trustee may, within 30 days after the date of the giving of the notification, make representations in writing to the Minister