Notice of liquidation

(1) The decision of the Central Bank appointing a liquidator for a licensee shall be effective as of the date of its issuance, unless such decision provides otherwise. 171 (2) The liquidator shall immediately post in each branch of the licensee a notice announcing the revocation of the license and appointment by the Central Bank, specifying the effective date and time of possession by the liquidator and specifying that– (a) authorizations of persons to engage in the financial responsibility of the licensee have been cancelled; (b) persons who previously had authorization to give instructions on behalf of the licensee with respect to payment or transfer of the licensee’s assets or assets managed by the licensee are no longer so authorized; and (c) the licensee’s license has been revoked. (3) Notice of the appointment of a liquidator by the Central Bank shall be published in the Gazette and in a newspaper of general circulation in Belize. The liquidator shall arrange for the publication of such notice each week for the next four weeks. (4) Within sixty days after the appointment of a liquidator, the liquidator shall– (a) deliver a notice to all known depositors, creditors and lessees of safe-deposit boxes held by the licensee; (b) publish in the Gazette and newspaper of general circulation in Belize a notice specifying a manner and time, not being earlier than sixty days from the date of delivery or publication of the notice, by which any claim against the licensee shall be filed with the liquidator. 172