Section 19Part 1 — Banks and Trust Companies Act
Authority may apply to Court
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The Authority may, in any case in which a licensee, or a person who has at any time been a licensee, is being wound up volun tarily, apply to the Court if the Authority considers that the winding up is not being conducted in the best interests of its depositors, the beneficiaries of any trust, or other creditors, and the Court shall make such order as it shall consider appropria te.
Where a petition for the winding up of a licensee, or a person who has at any time been a licensee, is presented by a person other than the Authority, the Authority shall be served with a copy of the petition by the petitioner and may appear at the hearing of the petition, and the provisions of subsections
and
shall apply. ( 3 ) A document which relates to a petition for winding up and which is required to be sent to a licensee or former licensee or any of their respective depositors, benefici aries, or other creditors, shall, in addition, be sent to the Authority. ( 4 ) A person appointed for the purpose by the Authority may —
attend a meeting of creditors of a licensee or former licensee;
attend a meeting of a committee established to discuss a compromise or arrangement; and
make representations as to any matter for decision at any such meeting.