Territorial Extent Miscellaneous Sections 40 to 42: Miscellaneous
183.Section 40 enables regulations to be made requiring persons who are registered to carry on regulated activities to make returns to the Commission. The regulations may also specify the frequency of the returns, their content, the period that the returns relate to, and the date by which returns must be made.
184.Section 41 provides for regulations to be made which deal with the process that applies when companies or individuals that are registered as service providers go into liquidation or receivership, or are declared bankrupt. The regulations may require the Commission to be notified and a suitably qualified manager to be appointed to manage the regulated activities.
185.Regulations under section 42 may require the Commission to be notified if a person who is registered as a service provider dies. They may also enable someone else to continue to carry on, for a limited period, the regulated activities which the deceased person was carrying on, and for the sections of the Act to apply in a modified way to allow for this.