Section 147: Winding up of licensees
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.
147. Winding up of licensees
(1) Notwithstanding any other enactment, a person shall not take a step
in connection with the winding up of a person holding a securities exchange
licence, a clearing and settlement facility licence or a securities trading system licence without the approval of the Commission.
(2) The Commission shall not give its approval under subsection (1)
unless it appears to the Commission that the interests of the users of the
exchange, facility or system, will be properly protected in the winding up.
(3) The Commission may make an application to the Court for the winding up of a licensee where it is satisfied that it is necessary in the interest of
investors or clients of the licensee, as the case may be.
(4) Where an application for the winding up of a licensee is presented by
a person other than the Commission, a copy of the application, shall, at the
same time, be served on the Commission and the Commission shall be entitled to be heard by the Court on the application.