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

ENF 6.5 Asset-freezing injunctions

ENF 6.5.1G

As an alternative to applying to the court under section 380(3) (Injunctions) or sections 381(3) and (4) (Injunctions in cases of market abuse) of the Act, the FSA may ask the court to exercise its inherent jurisdiction to grant a freezing order, restraining a person from disposing of, or otherwise dealing with, assets. To succeed in an application for an asset-freezing injunction the FSA will have to show a good arguable case for the granting of the injunction.

ENF 6.5.2G

The FSA may request the court to exercise its inherent jurisdiction in cases where it has evidence showing that there is a reasonable likelihood that a person will contravene a requirement of the Act and that the contravention will result in the dissipation of assets belonging to investors. Unlike an application under section 380(3) or 381(3) and (4), the FSA will not have to show that a contravention has already occurred or may have already occurred.