Section 33
Where—
of Act 125
(a)
a licensed borrowing company informs the Central
Bank—
(i)
that it considers that it is likely to become unable to meet its obligations; or
(ii)
that it is about to suspend payment; or
(b)
a licensed borrowing company becomes unable to meet its obligations or suspends payment; or
(c)
after an investigation is made under this Part the
Central Bank is of the opinion that a licensed borrowing company—
(i)
is likely to become unable to meet its obliga-tions or is about to suspend payment; or
[S. 33-35]
BAnénmesd
BORROWING COMPANIES 17
Gi) is carrying on its business in a manner detrimental to the interests of its depo-sitors, the Central Bank may—
(i)
require the licensed borrowing company forthwith to take such steps as the Central Bank may consider necessary or expedient;
(ii)
appoint a person to advise the licensed borrowing company in the proper conduct of its business;
(iii)
assume control of and carry on the business of the licensed borrowing company; or
(iv)
present a petition to the High Court for the winding up of the licensed borrowing company by the
Court.