(1) The Bank may apply to the Court in a summary manner for an order under paragraph (3) if of the opinion that a specified person is contravening or not complying with a provision of, or a direction given, or a requirement made, under these Regulations.

(2) On making an application under paragraph (1), the Bank shall serve a copy of the application on the person to whom the application relates. On being served with the notice, that person becomes the respondent to the application.

(3) On the hearing of an application made under paragraph (1), the Court may, make an order directing the respondent to cease contravening, or failing to comply with, the provision, direction or requirement specified in the application, provided it is satisfied that the respondent is contravening or failing to comply with the provision, direction or requirement.

(4) The Court may make an order under paragraph (3) whether or not a contravention of, or failure to comply with, the provision, direction or requirement is an offence and, if it is an offence, whether or not any person alleged to have committed the offence has been prosecuted for it.

(5) If the Court decides to make an order under paragraph (3), it may also make such ancillary orders as it thinks fit.