28. Orders of the Court relating to retirement or removal

Past version: effective from 18/04/2006 - 31/07/2006
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(1) Where an Operator seeks to retire from a Domestic Fund and a new Operator cannot be found, the Court may, on application of the Operator, of a Unitholder in the Fund, or of the DFSA, make one or more of the following orders:
(a) an order for the appointment of a temporary Operator;
(b) an order for the winding up of the Fund; or
(c) any other order as the Court considers just and equitable and in the interests of the Fund and of its Unitholders.
(2) If:
(a) a Domestic Fund does not have an Operator that meets the requirements of this Law or any Rules made under this Law; or
(b) in the event of misconduct, default or breach of duty by the Operator, the Court considers that it is just and equitable and in the interests of the Fund and of its Unitholders to make such an order;
the Court may, on application of the DFSA or of a Unitholder in the Fund, make one or more of the following orders:
(c) an order for the appointment of a new or temporary Operator;
(d) an order for the winding up of the Fund; or
(e) any other order as the Court considers appropriate.