1. The founder of the local fund shall submit an application for mutual fund cancellation, along with a report of liquidation reasons and mechanism.
2. SCA shall examine the application submitted and the documents attached. SCA has the right to require any other documents or information it sees fit.
3. SCA shall issue its decision approving or rejecting the cancellation application in no more than 15 business days from the date of submitting all required documents and information.