—(1) The persons who may apply under the Companies Act (Cap. 50) for the winding up of the affairs of a licensed financial adviser, or for the continuance of the winding up of the affairs of a licensed financial adviser subject to the supervision of the court, shall include the Authority.
(2) The Authority may, in accordance with the provisions of the Companies Act, apply for the winding up of a licensed financial adviser if the licensed financial adviser has contravened any of the provisions of this Act.
(3) The Authority shall be a party to any proceedings under the Companies Act relating to the winding up of the affairs of a licensed financial adviser.
(4) The liquidator in any winding up referred to in subsection (3) shall give the Authority such information as it may, from time to time, require about the affairs of the licensed financial adviser.
(5) Any liquidator who contravenes subsection (4) shall be guilty of an offence.
[Insurance Intermediaries, s. 33]