Section 20
Section 20
(1)
Where an application is made under section 7 and the name of the mutual fund to which the application relates ("the relevant fund") is-
{a}
the same as, or in the Authority's opinion is likely to be confused with, that of a registered fund; or
{b) in the Authority's opinion, misleading in any other respect, the Authority may give a direction as regards the relevant fund and any such direction shall be complied with before a mutual fund licence or mutual fund permission is issued or given as regards that fund.
(2)
Where a registered fund is for the time being using as its name a name with a characteristic described in subsection (l){a} or {b), the Authority may give a direction requiring -
{a} that use of the name of the fund be discontinued; and
{b) that there shall be used instead either a version of the name altered in a manner specified in the direction or a completely different name so specified.
(3}
A direction under subsection (1) or (2) shall be in writing and shall be given either to the manager or to the trustee or custodian of the registered fund.
(4)
Where the Authority gives a direction under subsection (2) and the direction is not complied with, then, subject to the First Schedule, the Authority 181
BRUNEI DARUSSALAM GOVERNMENT GAZETTE may, revoke the operator's licence or permission issued or given to the manager of the mutual fund to which the direction relates.