Banking Act 2009

[F1202AInjunctionsU.K.

(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)that there has been a compliance failure by the operator of a recognised F2... payment system [F3, a recognised DSA service provider,] [F4or a service provider in relation to such a system] [F5or such a DSA service provider], and

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

the court may make an order requiring the operator [F6, DSA service provider] [F7or service provider], and anyone else who appears to have been knowingly concerned in the failure, to take such steps as the court may direct to remedy it.

(3)If, on the application of the Bank of England, the court is satisfied—

(a)that there may have been a compliance failure by the operator of a recognised F8... payment system [F9, a recognised DSA service provider,] [F10or a service provider in relation to such a system] [F11or such a DSA service provider], or

(b)that a person may have been knowingly concerned in a compliance failure,

the court may make an order restraining the operator [F12, DSA service provider,] [F13, service provider] or person from dealing with any assets which it is satisfied the operator [F13, service provider] or person is reasonably likely to deal with.

(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.]