Common use of Report of Misconduct Clause in Contracts

Report of Misconduct. If an investigation into the affairs of an affected person by the special administrator reveals any fraud, misfeasance or other misconduct in connection with the promotion or formation of the affected person or in the management of an affected person or its affairs, or where there has been any misappropriation or wrongful retention of any asset which belongs to an affected person, the special administrator shall report such fraud, misfeasance or misconduct to the relevant authority or enforcement body.

Appears in 2 contracts

Sources: Asset Management Agreement, Eastern Caribbean Asset Management Corporation Act 2015