PART 11: PART 11: Miscellaneous
Article 190 - Application of other laws in relation to winding up
The provisions of these
Regulationsand any other Regulationsrelating to the powers of an Administrator, a provisional Liquidatorand Liquidatorto get in, secure, realise and distribute property of a Companyare subject to the application of other Regulationswhich may be inconsistent with or otherwise extend, exclude, modify, or waive the application of provisions of these Regulationsand any other such Regulationsin particular cases or classes of case.
Article 191 - Power of the QFC Court to declare dissolution of Company void
Companyhas been dissolved under these Regulationsor the Companies Regulations, the QFC Courtmay at any time within 10 years of the date of the dissolution, on an application made for the purpose by a Liquidatorof the Companyor by any other person appearing to the QFC Courtto be interested, make an order, on such terms as the QFC Courtsees fit, declaring the dissolution to have been void and the QFC Courtmay by the order give such directions and make such provisions as seem just for placing the Companyand all other persons in the same position as nearly as may be as if the Companyhad not been dissolved.
Article 192 - Proceedings against re-instated companies
Upon the making an order under Article 191, such proceedings may be taken which might have been taken if the
Companyhad not been dissolved.
Article 193 - Contraventions and administrative notice of financial penalty(1) Where:(A) a provision of these
Regulationsprovides that a failure to comply with a provision constitutes a contravention and renders the person liable to a financial penalty in relation to the contravention; and(B) the CROconsiders that a person has committed such a contravention, the CROmay impose by written notice given to the person a financial penalty, in respect of the contravention, of such amount as he considers appropriate, which written notice shall state the period of time within which the financial penalty must be paid.(2) If a person is knowingly concerned in such a contravention committed by another person, the aforementioned person as well as the other person commits a contravention and is liable to be proceeded with and dealt with under Article 193(1).(3) If, within the period specified in the notice issued under Article 193(1):(A) the person pays the financial penalty imposed by the CRO, then no proceedings may be commenced by the CROagainst the person in respect of the relevant contravention; or(B) the person objects to the imposition of the financial penalty or has not paid the imposed fine to the CRO, then the CROmay apply to the QFC Courtfor, and the QFC Courtmay so order, the payment of the financial penalty or so much of the fine as is not paid and make any further order as the QFC Courtsees fit for recovery of the financial penalty.(4) A certificate that purports to be signed on behalf of the CROand states that a written notice was given to a person pursuant to Article 193(1) imposing a financial penalty on the basis of specific facts is:(A) conclusive evidence of the giving of the notice to the person; and(B) prima facie evidence of the facts contained in the noticein any proceedings commenced under Article 193(3).(5) Nothing in this Article limits the powers that the CROmay otherwise have in relation to a failure to comply with these Regulationsor other Regulations, including its powers under the Companies Regulationsto issue and enforce a direction to a Companyor any officer of it to make good a failure.