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Status: You are viewing the version of the handbook as on 2005-06-30.

ENF 6.2 Introduction

ENF 6.2.1G

This chapter contains guidance on the use of the FSA's powers under the Act to apply to court for orders:

  1. (1)

    in relation to the contravention of a relevant requirement (section 380 of the Act (Injunctions));

  2. (2)

    in cases of market abuse (section 381 of the Act (Injunctions in cases of market abuse)); and

  3. (3)

    at the request of the Home State regulator of an incoming EEA firm (section 198 of the Act (Power to apply to court for injunction in respect of certain overseas insurance companies)).

ENF 6.2.2G

It also gives guidance on the circumstances in which the FSA may ask the court to exercise its inherent jurisdiction to grant an asset-freezing order.

ENF 6.2.3G

[deleted]1

ENF 6.2.4G

The orders the court may make following an application by the FSA are generally known in England and Wales and Northern Ireland as injunctions, and in Scotland as interdicts. In this chapter, the word 'injunction' and the word 'order' also mean 'interdict'.

ENF 6.2.5G

A person who disobeys an injunction may be in contempt of court and be liable to imprisonment, to a fine, and/or to have his assets seized.

ENF 6.2.6G

The powers to make these orders are exercised by the High Court, or in Scotland by the Court of Session. When it seeks an order, the FSA will also ask the court to order that the person who is the subject of the application should pay the FSA's costs.