Section 9Part 2 — Registration
Name of private fund restricted
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The Authority may refuse to register a private fund with a name that —
is identical with that of any company, firm, business or other entity, whether or not within the Islands, or so nearly resembles the name of such a company, firm, business or entity as to be likely to deceive;
is likely to suggest, falsely, the patronage of or connection with some person or authority, whether within the Islands or elsewhere; or
is likely to suggest, falsely, that the p rivate fund has a special status in relation to or derived from the Government or the Crown.
If, in the Authority ’ s opinion, a private fund is carrying on, or attempting to carry on business in or from the Islands in a name that the Authority would hav e refused by virtue of subsection (1), the Authority may direct the private fund to change its name to a name approved by the Authority.
A person who fails to comply with a direction given under subsection (2) commits an offence and is liable on conviction to a fine of two thousand dollars plus one hundred dollars in respect of each day during which the private fund fail s to comply with the direction.