Part 5F4... Payment Systems F9and service providers
Words in Pt. 5 heading inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(a), Sch. 6 para. 2
Enforcement
C1202AF1Injunctions
1
If, on the application of the Bank of England, the court is satisfied—
a
that there is a reasonable likelihood that there will be a compliance failure, or
b
that there has been a compliance failure and there is a reasonable likelihood that it will continue or be repeated,
the court may make an order restraining the conduct constituting the failure.
2
If, on the application of the Bank of England, the court is satisfied—
a
b
that there are steps which could be taken for remedying the failure,
3
If, on the application of the Bank of England, the court is satisfied—
a
b
that a person may have been knowingly concerned in a compliance failure,
4
The jurisdiction conferred by this section is exercisable—
a
in England and Wales and Northern Ireland, by the High Court, and
b
in Scotland, by the Court of Session.
5
In this section—
a
references to an order restraining anything are, in Scotland, to be read as references to an interdict prohibiting that thing,
b
references to remedying a failure include mitigating its effect, and
c
references to dealing with assets include disposing of them.
Word in Pt. 5 heading omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 2