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[F1Further provision about disqualification undertakings]N.I.

Variation etc. of disqualification undertakingN.I.

12.—(1) The High Court may, on the application of a person who is subject to a disqualification undertaking—

(a)reduce the period for which the undertaking is to be in force, or

(b)provide for it to cease to be in force.

(2) On the hearing of an application under paragraph (1), the Department shall appear and call the attention of the Court to any matters which seem to the Department to be relevant, and may give evidence or call witnesses.

F2[( 3 )  Paragraph (2) does not apply to an application in the case of an undertaking given under Article 13B, and in such a case on the hearing of the application whichever of the [F3CMA] or a specified regulator (within the meaning of Article 13E) accepted the undertaking—

(a)shall appear and call the attention of the Court to any matters which appear to it to be relevant;

(b)may give evidence or call witnesses.]