Section 77 Investments and Securities Act 2025

Section 77 of the Investments and Securities Act 2025 is about Control of failing regulated entity. It is under Part VII (Inspections and Investigations) of the Act. It provides as follows:

(1) Where, after taking steps under section 75 of this Act, the Commission is of the opinion that the state of affairs of the regulated entity concerned has not improved significantly, the Commission may assume control of the regulated entity or appoint persons to do so on its behalf.

(2) Where the Commission or an appointed person has assumed control of the business of a regulated entity under subsection (1), the regulated entity shall submit its capital market business to the control of the Commission and shall provide the Commission or the appointed person with such facilities as the Commission or the appointed person may require to carry on the business of the regulated entity.

(3) A regulated entity shall cooperate with the Commission at all times.