167. (1) On an application by a person specified in subsection (3), the Bank may restore an ICAV to the register of ICAVs if—

(a) the Bank has reasonable cause to believe that the strike off of the ICAV has disadvantaged the applicant,

(b) the application is made in the form specified by the Bank,

(c) the application is received by the Bank within the period of 12 months after the date of dissolution of the ICAV, and

(d) the requirements of subsection (2) have been satisfied within the period of 15 months after the date of dissolution of the ICAV.

(2) The requirements referred to in subsection (1)(d) are the following:

(a) the Bank has received written confirmation from the Minister and the Revenue Commissioners that they have no objection to the ICAV being restored to the register of ICAVs under this section;

(b) the Bank is satisfied that no notification required by section 65(6) remains outstanding in relation to the ICAV.

(3) The Bank may restore an ICAV to the register of ICAVs on the application of a person who was a member or an officer of the ICAV at the date of its dissolution.

(4) On the registration of an application under this section and on payment of such fee as may be prescribed under section 32E of the Central Bank Act 1942, the Bank shall restore the ICAV to the register of ICAVs and the ICAV shall be deemed to have continued in existence as if it had not been struck off.

(5) Subject to any order made by the High Court in the matter, the restoration of an ICAV to the register of ICAVs under this section shall not affect the rights and liabilities of the ICAV in respect of any debt or obligation incurred, or any contract entered into, by, to, with or on behalf of the ICAV between the date of its dissolution and the date of restoration.