(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 a recognised person, and

(b) that there are steps which could be taken for remedying the failure, the court may make an order requiring the recognised person, and any other person 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 a recognised person, or

(b) that any other person may have been knowingly concerned in a compliance failure, the court may make an order restraining the person from dealing with any assets which it is satisfied the person is reasonably likely to deal with.