Irish Collective Asset-management Vehicles Act 2015

Contents of Bank’s notice to ICAV

158. (1) The Bank’s notice under section 157 shall—

(a) state that the issue of the notice is the first step in a process that may lead to the ICAV being struck off the register of ICAVs,

(b) state the ground or grounds for striking off being invoked by the Bank,

(c) state that the ICAV will be dissolved if it is struck off the register of ICAVs,

(d) specify the remedial step,

(e) specify the date on or before which the remedial step must be taken, and

(f) state that failure to take the remedial step on or before the date so specified may result in the Bank giving public notice of an intention to strike the ICAV off the register of ICAVs.

(2) The date to be specified for the purposes of subsection (1)(e) shall be a date falling not less than 28 days after the date of the notice.