FUTURES INDUSTRY ACT 1986 No. 72 of 1986 - SECT 104 Power of Court to make order relating to payment of money

FUTURES INDUSTRY ACT 1986 No. 72 of 1986 - SECT 104

104. (1) An order made under section 103 may include directions to the person
to whom the money is paid directing that that person-

   (a)  shall cause the money to be paid into a trust account;

   (b)  is authorised to prepare a scheme for distributing the money to
        persons who claim, during a period of 6 months after the Commission or
        that other person receives the money, to be entitled to the money and
        satisfy the Commission or that other person that they are so entitled;
        or

   (c)  where the money received is insufficient to pay all proved claims,
        may, notwithstanding any rule of law or equity to the contrary,
        apportion the money among the claimants in proportion to their proved
        claims and show in the scheme how the money is so apportioned.

(2) Where a person prepares a scheme for distribution of money pursuant to
sub-section (1), the person shall apply to the Court for approval of the
scheme and for directions with respect to it.

(3) The Court may give such directions as to the money held in a trust account
pursuant to sub-section (1), as to the persons to whom and in what amounts the
whole or any portion of that money shall be paid, and as to the payment of the
balance of the money (if any) remaining in the account, as the Court thinks
fit.