(1) Where the Bank is satisfied that a payment system or any member thereof has failed or is failing to comply with a condition or requirement under section 8(2)(a) or section 9, the Bank may give a direction to -

(a) the payment system to cease such activities as the Bank may specify, and

(b) any or all of the members of the payment system to cease operating as a member or members of that system,

for a specified period or until further notice by the Bank.

(2)

(a) The payment system to which, or member or members thereof to whom, a direction is given under subsection (1) may apply in a summary manner to the Court for, and the Court may grant, an order setting aside the direction.

(b) The Bank may apply in a summary manner to the Court to have a direction by it under this section confirmed by the Court.

(3) The Court when considering the matter may make such interim or interlocutory order as it considers appropriate.