Registration refusal: Board may reject AIF applications after hearing; rejected applicant must stop operating as an Alternative Investment Fund. After considering an application for a certificate under the Alternative Investment Funds Regulations the Board may reject the application after giving the applicant a reasonable opportunity of being heard; the Board's decision of rejection must be communicated to the applicant within the period specified by the regulations. Where an application is rejected the applicant shall cease to carry on any activity as an Alternative Investment Fund, without affecting the applicant's liability towards existing investors under law or agreement.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Registration refusal: Board may reject AIF applications after hearing; rejected applicant must stop operating as an Alternative Investment Fund.
After considering an application for a certificate under the Alternative Investment Funds Regulations the Board may reject the application after giving the applicant a reasonable opportunity of being heard; the Board's decision of rejection must be communicated to the applicant within the period specified by the regulations. Where an application is rejected the applicant shall cease to carry on any activity as an Alternative Investment Fund, without affecting the applicant's liability towards existing investors under law or agreement.
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