174. Compliance orders

(1) This section applies if an ICAV or an officer of an ICAV -

(a) has failed to comply with a provision of this Act, and

(b) the ICAV or officer has failed to remedy the default within 14 days (or such longer period as may be specified in the notice) after the date of service by any person referred to in subsection (3) on the ICAV or officer of a notice requiring the ICAV or officer to remedy the default.

(2) In any case to which this section applies, the High Court, on the application of a person specified in subsection (3), may order the ICAV or officer in default to remedy the default within such time as the High Court specifies.

(3) The High Court may make the order only on the application of one of the following:

(a) any member of the ICAV;

(b) any creditor of the ICAV;

(c) the Director of Corporate Enforcement.

(4) In making an order under subsection (2), the High Court may order that the ICAV or the officer responsible for the default pay all costs of and incidental to the appl

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