Section 28Part 3 — Mutual Fund Administration
Authority may take action in respect of unlicensed mutual fund administrator
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If it appears to the Authority —
that a person is acting or carrying on business as a mutual fund administrator; and
the person is doing so in breach of section 10 , the Authority has power to apply to the Grand Court for such orders as it thinks fit to preserve the assets of the investors in any mutual fund being administered b y that person, and the Grand Court has power to grant such orders.