Section 71
Power of Registrar to intervene
Notwithstanding anything in this Act, the Registrar shall have the power to intervene in the management of a scheme when he is satisfied that—
(a)
the scheme is unable to meet its obligation when they fall due;
(b)
the operation, management or administration of the scheme has not been conducted in accordance with the trust deed, supplemental trust deed, contractual agreement or supplemental contractual agreement; or
80 Laws of Malaysia ACT 778
(c)
the terms and conditions for the authorization of a scheme imposed by the Registrar have not been complied with.
(2)
In exercising the power under subsection (1), the Registrar may make one or more of the following:
(a)
order the management company to cease the issue or offer of the interests to the public until further notice;
(b)
require the auditor of the scheme to carry out an audit on the scheme and submit his report within the period as specified by the Registrar;
(c)
order the management company to wind up the scheme;
or
(d)
give such other directions as may be necessary to protect the interests of interest holders.