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Version status: Revoked | Document consolidation status: Updated to reflect all known changes
Version date: 1 July 2011 - onwards
  Version 2 of 2    

Regulation 67 Winding up of an investment company.

Revoked from 1 July 2011

(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 trustee;

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

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

(i) any conditions imposed under Regulation 97 in relation to the resignation from office of such a trustee and the replacement by it of another trustee, and

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

and

(d) the petition for such winding up has been served on the com

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