(1) Where the Commission revokes its authorisation of a collective scheme under section 110, the Commission may apply to the High Court to appoint a person to wind up the scheme.
(2) On the application under this section the High Court may make such order as it sees fit.
(3) The Commission shall give written notice of the making of an application under this section to the manager and custodian and shall take such steps as it considers appropriate for bringing the making of the application to the attention of the participants.