Section 189 Investments and Securities Act

Section 189 of the Investments and Securities Act 2025 is about Issuance of directive or its revocation. It is under Part XIII (Collective Investments Schemes) of the Act. It provides as follows:

(1) Where the Commission —
(a) gives a directive under section 188 of this Act, or
(b) revokes such directive otherwise than at the request of the manager or trustee or custodian of the scheme, it shall give the applicants or, as the case may be, the manager and trustee or custodian of the scheme written notice of its intention to do so stating the reasons for which it proposes to act and giving particulars of the rights conferred by subsection (2).

(2) A person on whom a notice is served under subsection (1) may, within 21 days of the date of service, make written representations to the Commission and, if desired, oral representations to a person appointed for that purpose by the Commission.

(3) The Commission shall have regard to representations made in accordance with subsection (2) in determining whether to refuse the application or revoke the order.