(1) The board may cancel the approval given under section 72 to operate a collective investment scheme in the following cases:- (a) If the necessary conditions of operation cannot be fulfilled satisfactorily, (b) If it is not deemed appropriate to continue such a scheme taking into account the interests of the participants, (c) If the scheme manager and the depository violate this Act or the rules or regulations made under this Act or provide any false information to the Board in relation to the scheme. may make necessary inquiries with the director or the related staff. (3) Upon canceling the approval given to operate the plan according to sub-section (1), the board may operate the plan by any other plan manager, taking into account the investment and return of the investors, or return the investment and return of the investors of such plan. (4) According to the order of the board, the procedure to be followed when closing the scheme and clearing the accounts shall be as prescribed.