Companies Act, 1990
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Powers of Bank. |
257.—(1) Notwithstanding any other powers which may be available to the Bank under any other enactment, order or regulation, the Bank may impose such conditions for the granting of an authorisation to a company under section 256 as it considers appropriate and prudent for the purposes of the orderly and proper regulation of the business of investment companies. | |
(2) Conditions imposed under subsection (1) may be imposed generally, or by reference to particular classes of company or business (including, but not limited to, whether or not an investment company is a designated company), or by reference to any other matter the Bank considers appropriate and prudent for the purposes of the orderly and proper regulation of the business of investment companies. | ||
(3) The power to impose conditions referred to in subsection (1) shall include a power to impose such further conditions from time to time as the Bank considers appropriate and prudent for the purposesof the orderly and proper regulation of the business of investment companies. | ||
(4) Without prejudice to the generality of subsections (1), (2) and (3), conditions imposed by the Bank on an investment company may make provision for any or all of the following matters— | ||
(a) the prudential requirements of the investment policies of the company, | ||
(b) prospectuses and other information disseminated by the company, | ||
(c) the vesting of the assets or specified assets of the company in a person nominated by the Bank with such of the powers or duties of a trustee with regard to the company as are specified by the Bank, | ||
(d) such other supervisory and reporting requirements and conditions relating to its business as the Bank considers appropriate and prudent to impose on the company from time to time for the purposes referred to in the aforesaid subsections. | ||
(5) A company shall comply with any conditions relating to its authorisation or business imposed by the Bank. |