Versions

 

20.

Article 108, is replaced as follows:

"Application for an order sanctioning a scheme

(1) An application in relation to a firm may be made to the Court for an order sanctioning a transfer scheme. An application may be made by:
(a) the firm concerned;
(b) the transferee; or
(c) both.
(2) An application in relation to a Fund may be made to the Court for an order sanctioning a transfer scheme. An application may be made by:
(a) the Fund concerned;
(b) the Operator or auditor of the Fund concerned; or
(c) the transferee.
(3) The Court may grant such orders if it considers that, in all the circumstances of the case, it is appropriate to sanction the transfer scheme.