Section 65
Winding up ordered by Court
An application to wind up the scheme may be made to the
Court by—
74 Laws of Malaysia ACT 778
(a)
the management company;
(b)
the trustees;
(c)
a director of the management company;
(d)
an interest holder of the scheme; or
(e)
the Registrar.
(2)
The Court may order the management company of a scheme to wind up the scheme if—
(a)
the Court thinks it is just and equitable to do so; or
(b)
within six months before the application to the Court was made, execution or other process was issued on a judgement, decree or order obtained in a Court, whether in Malaysia or not, in favour of a creditor of, and against, the management company in its capacity in relation to the scheme and the execution or process has been returned unsatisfied.
(3)
An order under paragraph (2)(b) may be made on the application of a creditor.