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The Electronic Money Regulations 2011
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Changes over time for: Section 54
Version Superseded: 29/08/2023
Alternative versions:
- 09/02/2011- Amendment
- 14/02/2014
Point in time - 29/08/2023- Amendment
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54.—(1) If, on the application of the Authority, the court is satisfied—
(a)that there is a reasonable likelihood that any person will contravene a requirement imposed by or under these Regulations; or
(b)that any person has contravened such a requirement and that there is a reasonable likelihood that the contravention will continue or be repeated,
the court may make an order restraining (or, in Scotland, an interdict prohibiting) the contravention.
(2) If, on the application of the Authority, the court is satisfied—
(a)that any person has contravened a requirement imposed by or under these Regulations; and
(b)that there are steps which could be taken for remedying the contravention,
the court may make an order requiring that person, and any other person who appears to have been knowingly concerned in the contravention, to take such steps as the court may direct to remedy it.
(3) If, on the application of the Authority, the court is satisfied that any person may have—
(a)contravened a requirement imposed by or under these Regulations; or
(b)been knowingly concerned in the contravention of such a requirement,
it may make an order restraining (or, in Scotland, an interdict prohibiting) them from disposing of, or otherwise dealing with, any assets of theirs which it is satisfied that they are reasonably likely to dispose of or otherwise deal with.
(4) The jurisdiction conferred by this regulation is exercisable by the High Court and the Court of Session.
(5) In paragraph (2), references to remedying a contravention include references to mitigating its effect.
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