Section 58A
Application for winding up
of Securities Industry (Central Depositories) Act 1991
Notwithstanding the provisions of the Companies Act 1965, if a person referred to in subsection 58(1) is a company, whether or not the company is being wound up voluntarily, the person may be wound up under an order of the Court on the petition of the Commission or a central depository in accordance with the provisions of the Companies Act 1965.
(2)
The Court may order the winding up on a petition made under subsection (1) if the person referred to in subsection 58(1)—
(a)
has been appointed as an authorized depository agent under section 13 and that appointment has been terminated; or
(b)
has contravened any rules of the central depository or any provision of the securities law, whether or not that person has been charged with an offence in respect of the contravention, or whether or not the contravention has been proved in prosecution.