Investor Compensation Act, 1998

Appointment of an administrator.

33.—(1) The supervisory authority may appoint an administrator to an investment firm in respect of which a determination has been made in accordance with section 31 (3) or in respect of which a court has made a ruling.

(2) An administrator appointed by the supervisory authority to an investment firm under subsection (1) shall have the powers of an authorised officer under the Act of 1995 in relation to the investment firm and the powers available to an authorised officer under that Act shall apply in relation to investment firms accordingly.

(3) The administrator shall deliver to the Company or to the compensation scheme approved of under section 25 , of which the investment firm is or was a member, as appropriate, and to the supervisory authority, as soon as practicable, the names of eligible investors and a statement of the net loss of each such investor and a statement of the compensatable loss of each such investor.

(4) An administrator may apply to the Court to determine any question arising in relation to his or her functions under this Act.