Securities and Futures Act 2001 · 2020 Revised Edition · Part 3A · Approved Holding Companies
81ZGA. Information of insolvency, etc.
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Any approved holding company which is or is likely to become insolvent, which is or is likely to become unable to meet its obligations, or which has suspended or is about to suspend payments, must immediately inform the Authority of that fact.
approved holding company
“approved holding company” means a corporation that is approved by the Authority under section 81W as an approved holding company;
Any approved holding company which contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $150,000 and, in the case of a continuing offence, to a further fine not exceeding $15,000 for every day or part of a day during which the offence continues after conviction.