Trust Companies Act 2005 · 2020 Revised Edition · Part 2 · Licensing of Trust Companies
12. General provisions as to winding up
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The persons who may apply under the Insolvency, Restructuring and Dissolution Act 2018 for the winding up of the affairs of a licensed trust company, or for the continuance of the winding up of the affairs of a licensed trust company subject to the supervision of the court, include the Authority.
licensed trust company
“licensed trust company” means a corporation holding a trust business licence;
The Authority may, in accordance with the provisions of the Insolvency, Restructuring and Dissolution Act 2018, apply for the winding up of a licensed trust company if the licensed trust company has contravened any provision of this Act.
The Authority is to be a party to any proceedings under the Insolvency, Restructuring and Dissolution Act 2018 relating to the winding up of the affairs of a licensed trust company.
The liquidator in any winding up mentioned in subsection (3) must give to the Authority such information as the Authority may, from time to time, require about the affairs of the licensed trust company.
Any liquidator who contravenes subsection (4) shall be guilty of an offence.