Section 178 Investments and Securities Act

Section 178 of the Investments and Securities Act 2025 is about Suspension or revocation of registration of a trustee or custodian. It is under Part XIII (Collective Investments Schemes) of the Act. It provides as follows:

(1) The Commission may revoke or suspend the registration of a trustee or custodian, where the Commission is no longer satisfied that the requirements contained in section 177 of this Act are met by the trustee or custodian.

(2) The Commission shall, before revoking or suspending a registration under subsection (1), notify the trustee or custodian concerned of the grounds on which such action is and shall a reasonable opportunity of showing cause why the proposed action should not be taken.