(1) If the Bank is of the opinion that an insurance holding company has not complied with a direction notified under Regulation 14, it may apply to the High Court for an order under paragraph (4).

(2) On making an application under paragraph (1), the Bank shall serve a copy of the application on the insurance holding company concerned. On being served with the copy, that company becomes the respondent to the application and as such is entitled to appear before and be heard at the hearing of the application.

(3) Pending the hearing of the application, the High Court may make such interim or interlocutory orders as it considers appropriate.

(4) On the hearing of the application, the High Court may, if satisfied that the respondent has not complied with the direction, make an order requiring the respondent to comply.

(5) If the High Court makes an order under paragraph (4), it may also make such ancillary orders as it thinks appropriate in the circumstances.