54DF
In forceOrders consequential on suspension or cancellation of approval
Part 5APrescribed residential building work - consumer protection
Division 4Fidelity certificates and approved fidelity fund schemes
54DF Orders consequential on suspension or cancellation of approval
(1) If the Minister suspends or cancels the approval of a fidelity fund scheme under section 54DE(1)(c) or (d), the Minister may apply to the Supreme Court for orders to give effect to, or consequential on, the suspension or cancellation.
(2) On application under subsection (1), the Supreme Court may make the orders it considers just, including:
(a)
orders for the winding-up of the scheme; and
(b)
orders in relation to the assets and liabilities of the scheme.
This Act’s bill:Second reading speech
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