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Rules of Practice 1994 (S.R. 1994, No. 229)
|Requested: 29 Apr 2017|
|Consolidated as at: 17 Mar 2006|
72. Deregistration of controlled fund operators
(1) The Society, by notice in writing, may suspend or revoke the registration of a fund operator as a controlled fund operator if it is reasonably satisfied that the fund operator or the related firm has contravened the provisions of this Part.
(2) A suspension or revocation does not take effect until 14 days after the day on which the notice is given to the fund operator.
(3) At any time while the registration of a fund operator as a controlled fund operator is suspended, the Society may
(a) cancel the suspension; or
(b) reduce or extend the period for which the registration is suspended.
(4) While the registration of a fund operator as a controlled fund operator is suspended, that registration remains in effect for the purposes of rules 69, 70, 73 and 74.