SCHEDULES
SCHEDULE 14Licensing authority's powers of intervention
Money: prohibition on payment
2
1
The licensing authority may apply to the High Court for an order under sub-paragraph (2), and the High Court may make the order if it thinks fit.
2
The order is that a person holding money on behalf of the licensed body may not make any payment of the money, except with the leave of the court.
3
An order under sub-paragraph (2) may take effect in relation to a person—
a
whether or not the person is named in the order;
b
however the money is held;
c
whether the money was received before or after the order was made.
4
But an order under sub-paragraph (2) does not take effect in relation to a person until the licensing authority—
a
has given the person a copy of the order, and
b
(in the case of a bank or other financial institution) has indicated the branches at which it believes money to which the order relates is held.
5
A person is not to be treated as having disobeyed an order under sub-paragraph (2) by making a payment of money if the court is satisfied that the person—
a
exercised due diligence to ascertain whether it was money to which the order related, and
b
failed to ascertain that the order related to it.