163. (1) If the Bank has given a notice under section 160 and the remedial step has not been taken on or before the date specified in that notice for the purposes of subsection (2)(c) of that section, the Bank may strike the ICAV off the register of ICAVs.

(2) If the Bank has given a notice under section 162 and—

(a) no objection referred to in subsection (2)(b) of that section has been delivered to the Bank within the period specified in that notice for the purposes of subsection (2)(c) of that section or the Bank is of opinion that there is no reasonable basis to such an objection that has been so delivered, and

(b) the ICAV has not requested, in accordance with subsection (4) of that section, the cancellation of the process of its being struck off,

the Bank may strike the ICAV off the register of ICAVs.

(3) The Bank shall publish in Iris Oifigiúil a notice of the striking of an ICAV off the register of ICAVs.

(4) The ICAV is dissolved on the date of publication by the Bank of the notice in the Iris Oifigiúil of its being struck off and that date is referred to subsequently in this Part as the “date of dissolution”.