Islamic Financial Services Act 2013 · s 208

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s 208Appointment and remuneration of liquidator

(1)

The High Court, where a winding up order is made in respect of an institution pursuant to section 205, shall appoint as liquidator such person as the Bank may specify in its application and shall specify that the remuneration of the liquidator shall be determined by the Bank.

(2)

On an application by the Bank, the High Court shall appoint as liquidator such person as the Bank may specify in its application—

(a)

to fill a vacancy; or

(b)

to remove and replace a liquidator appointed under subsection (1).