Irish Collective Asset-management Vehicles Act 2015

Restoration on application to High Court

168. (1) On an application in accordance with section 169 by a person specified in subsection (2), the High Court may order that an ICAV that has been struck off the register of ICAVs be restored to the register of ICAVs if—

(a) the striking off of the ICAV has disadvantaged the applicant,

(b) the application is made within the period of 2 years after the date of dissolution of the ICAV, and

(c) it is just and equitable to do so.

(2) The High Court may make the order on the application of—

(a) the ICAV,

(b) a creditor of the ICAV,

(c) a person who was a member or an officer of the ICAV at its date of dissolution, or

(d) a person who, at the date of its dissolution, had an entitlement (disregarding any right of the directors to decline to register the person as such) to be registered as a member of the ICAV by virtue of—

(i) the execution, in the person’s favour, of an instrument of transfer of a share, or

(ii) the transmission, by operation of law, to the person of a right to a share.

(3) Subject to a supplementary order made under section 172 (c), the ICAV shall be deemed to have continued in existence as if it had not been struck off the register of ICAVs upon the Bank receiving a certified copy of the order under subsection (1) within 28 days after the date of its perfection.