Section 110: Terminating and winding up collective investment schemes – powers
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
110. Terminating and winding up collective investment schemes – powers
of Court
(1) The Court may, on application, make orders terminating the operation
of a collective investment scheme.
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Revised Laws of Mauritius
(2) Where the Court makes an order under subsection (1), it may also
make any order it thinks fit for the winding up of the scheme.
(3) An application under subsection (1) may be made by—
(a) the Commission; or
(b) a participant in the scheme.
(4) Where an application under subsection (1) is presented by any person
other than the Commission, the Commission shall be entitled to be heard by
the Court on the application.
(5) The Court shall not make an order under subsection (1) unless it is
satisfied that—
(a) the scheme is being operated in contravention of this Act, any
regulations made under this Act or any FSC Rules or its constitutive documents, and it is in the interests of the participants in
the scheme, or the public interest, to terminate the scheme; or
(b) it is just and equitable to make the order.
(6) An application under this section shall be made in the presence of the
Commission.
PART IX – MARKET ABUSES