Skip to content
In forceAmended2020 Revised Edition

Part 4A · Special Administration Orders and Schemes of Transfers, Etc., for Licensees and Designated Operating Entities

27F. Duties of relevant entity or trustee-manager, etc.

Feedback & support
Amended

Last amended by an amending law of 2024.

(1)

The relevant entity that is the subject of a special administration order under this Part or, in the case of such a relevant entity that is a business trust, its trustee-manager —

(a)

must facilitate the handover of the operations to the appointed person as specified in the order;

(b)

must not obstruct the appointed person’s access to property or the exercise by the appointed person of the appointed person’s responsibilities under or pursuant to the special administration order; and

(c)

must comply with reasonable directions given by the appointed person in the exercise of the appointed person’s responsibilities under or pursuant to the special administration order.

(2)

The relevant entity or trustee-manager which fails to comply with subsection (1) or an order under section 27C(1)(b) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000 or to imprisonment for a term not exceeding 6 months or to both.

Report

Part 5

Appeals

Part 6

Miscellaneous

Schedules