Contents of Section

Chapter:

588 PDFTitle:FINANCIAL REPORTING COUNCIL ORDINANCEGazette Number:L.N. 104 of 2007
Section:48Heading:Councilˇ¦s powers to close case, suspend enquiry and follow up, etc.Version Date:16/07/2007


(1) The Council may, in relation to an enquiry under this Part concerning a relevant non-complianceˇX

        (a) close the case without further action;
        (b) suspend the enquiry for such period as the Council thinks fit;
        (c) secure the removal of the non-compliance in accordance with Division 4; or
        (d) carry out such other follow-up action in accordance with this Ordinance as the Council thinks fit.
(2) The Council shall not, in relation to an enquiry under this Part, exercise a power under subsection (1) unless the Council has taken into account the report prepared under section 47(1) or (2) in relation to the enquiry.
(3) As soon as practicable after deciding to exercise a power under subsection (1), the Council shall give written notice of the decision to the listed entity concerned unless the Council is satisfied that the notification may prejudice the enquiry, or any other action by the Council, or a specified body, relating to the enquiry.