(1) The management company of a common contractual fund shall keep and maintain a register (which shall be known, and is in this Part referred to, as a 'beneficial ownership register') in which there shall be entered by it the information referred to in section 18A(1)(a) and (b) and (2).

(2) A management company that fails to comply with subsection (1) shall be guilty of an offence.

(3) If -

(a) the name of any individual is, without sufficient cause, entered in or omitted from a common contractual fund's beneficial ownership register, or

(b) default is made or unnecessary delay takes place in entering in a common contractual fund's beneficial ownership register the fact that an individual has ceased to be a beneficial owner of it,

the individual aggrieved or any other interested party may apply to the High Court for rectification of the register.

(4) Where an application is made under subsection (3), the High Court may either refuse the application or may order rectification of the beneficial ownership register and payment by the common contractual fund of compensation for any loss sustained by any party aggrieved.

(5) On such an application, the High Court may -