(1) The court may, on the application of the Bank, order the sale of shares or the disposition of voting power in the following circumstances.
(2) The circumstances are that -
(a) a person ("P") has taken a decision in relation to which P is required to give the Bank an Article 31 notice; and
(b) P has made the proposed acquisition -
(i) without giving the Article 31 notice,
(ii) before the expiry date of the assessment period (unless the Bank has approved the acquisition), or
(iii) in contravention of the Bank's decision under Article 31(5) of the EMIR regulation.
(3) Where the court orders the sale of shares or disposition of voting power it may -
(a) if a restriction notice has been given in relation to the shares or voting power, order that the restrictions cease to apply; and
(b) make any further order.
(4) Where the court makes an order under this regulation, it must take into account the level of holding that P would have been entitled to acquire, or to continue to hold, without
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