← belizelaw.ai · Mutual Funds, Cap. 268 · PART IV — Private and Professional Funds

Power to grant recognition

Cap. 268, s. 20 · Revised Edition 2020

(1) The Minister may, in his discretion, grant or refuse to grant recognition under section 19 (2) of this Act. (2) Where the Minister refuses to grant recognition under section 19 (2) of this Act, the provisions of section 11 (3) of the Act, shall apply mutatis mutandis. (3) The Minister shall not refuse to grant recognition under section 19 (1) of this Act, unless the applicant fails to comply with the requirements of that section. (4) Where the Minister refuses to grant recognition under section 19 (1) of this Act, he shall give the applicant notice in writing of his decision and the reasons therefor and the applicant may appeal such decision pursuant to section 33 of the Act. funds.
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