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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 21 March 2016 - onwards
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Regulation 107 Winding up of investment company

(1) Without prejudice to any other powers of the Bank, the following conditions are prescribed for the purpose of subparagraph (ii) of paragraph (fa) of section 213 of the Companies Act 1963 (which relates to the power of the court to wind up an investment company on the grounds that it is just and equitable to do so):

(a) the petition for such winding up has been presented by the depositary;

(b) the depositary has notified the investment company of its intention to resign as such depositary and 6 or more months have elapsed since the giving of that notification without a depositary having been appointed to replace it;

(c) the court, in considering the said petition, has regard to -

(i) any conditions imposed under Regulation 123 in relation to the resignation from office of such a depositary and the replacement by it of another depositary, and

(ii) whether a winding up would best serve the interests of unit-holders in the company;

and

(d) the petition for such winding up has been serv

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