Article 36 - Power to Require Change of Name
(1) Where an Investment Club has been registered by a name which:
a. is the same or, in the opinion of the CRO, too like a name appearing at the time of registration in the index maintained by the CRO; or
b. is the same as or, in the opinion of the CRO, too like a name which should have appeared in the index at that time,
the CRO may within 12 months of that time in writing direct the Investment Club to change its name within such period as it may specify.
(2) If it appears to the CRO:
a. that misleading information has been given for the purpose of the registration of an Investment Club by a particular name; or
b. that undertakings or assurances have been given for that purpose and have not been fulfilled
it may, within 5 years of the date of its registration by that name, in writing direct the Investment Club to change its name within such period as the CRO may specify.
(3) If in the CRO's opinion the name by which an Investment Club is registered gives so misleading an indication of the nature of its activities as to be likely to cause harm to the public, it may in writing direct the Investment Club to change its name within such period (being not less than 30 days) as the CRO may specify.
(4) The Investment Club may, within 21 days from the date of any direction under Article 36(1), (2) or (3), apply to the Regulatory Tribunal to set it aside and the Regulatory Tribunal may set the direction aside or confirm it and, if it confirms it, shall specify the period within which it must be complied with.
(5) Where a direction has been given under Article 36(1), (2) or (3) specifying a period within which an Investment Club is to change its name, the CRO may at any time before that period ends extend it by a further direction in writing.
|Derived (as from 20th December 2016).|