Revised Laws of Saint Lucia (2021)

37.   Authority may apply to Court to preserve customers' interests

  1.  

    (1)   The Authority may, in a case where a licensee, or a person who has at any time been a licensee, is being wound up voluntarily, apply to the Court if the Authority considers that the winding up is not being conducted in the best interests of the licensee's customers or creditors, and the Court shall make any order it considers appropriate.

  1.  

    (2)   If it appears to the Authority that there are reasonable grounds for suspecting that an offence against this Act has been or is being committed by any person, the Authority may, with the approval of the court, take any action the Authority considers necessary, in the interest of the person's customers or creditors, to preserve any assets held by that person.