Islamic Financial Services Act 2013 · s 115

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 115Bank to be party to proceedings

(1)

A person making an application to the High Court under subsection 114(2) in relation to a business transfer scheme shall—

(a)

deliver a copy of the application to the Bank;

(b)

give notice to the Bank of all proceedings relating to the application; and

Islamic Financial Services 121

(c)

give to the Bank a copy of any document relating to the proceedings, at the same time as the proceedings are instituted or the document is lodged, in the High Court or the document is served on a party to the proceedings.

(2)

The Bank shall be entitled to be heard in proceedings relating to the application under subsection (1).

(3)

Notwithstanding that the Bank has given its approval to a business transfer scheme under subsection 112(6), the Bank may propose any modification to the scheme.