Financial Services and Markets Act 2000

381 Injunctions in cases of market abuse.U.K.

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(1)If, on the application of the [F1FCA], the court is satisfied—

(a)that there is a reasonable likelihood that any person will engage in market abuse, or

(b)that any person is or has engaged in market abuse and that there is a reasonable likelihood that the market abuse will continue or be repeated,

the court may make an order restraining (or in Scotland an interdict prohibiting) the market abuse.

(2)If on the application of the [F1FCA] the court is satisfied—

(a)that any person is or has engaged in market abuse, and

(b)that there are steps which could be taken for remedying the market abuse,

the court may make an order requiring him to take such steps as the court may direct to remedy it.

(3)Subsection (4) applies if, on the application of the [F1FCA], the court is satisfied that any person—

(a)may be engaged in market abuse; or

(b)may have been engaged in market abuse.

(4)The court [F2may] make an order restraining (or in Scotland an interdict prohibiting) the person concerned from disposing of, or otherwise dealing with, any assets of his which it is satisfied that he is reasonably likely to dispose of, or otherwise deal with.

(5)The jurisdiction conferred by this section is exercisable by the High Court and the Court of Session.

(6)In subsection (2), references to remedying any market abuse include references to mitigating its effect.

Textual Amendments

F1Word in s. 381(1)-(3) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 20(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.