Central Bank Act, 1989.

Power of Court to prohibit certain contraventions of, or failure to comply with, Act of 1971.

44.—The Act of 1971 is hereby amended by the insertion of the following section after section 28:

“28A. (1) Where, on an application made in a summary manner by the Bank, the Court is of the opinion that there has occurred or is occurring—

(a) a contravention of section 17 or 18 of this Act, or

(b) a failure to comply with a condition imposed in relation to a licence by virtue of section 10, or with a direction under section 22 , of this Act,

the Court may, by order, prohibit the continuance of the contravention or failure by the person or persons concerned.

(2) The Court when considering the matter may make such interim or interlocutory order as it considers appropriate.

(3) Where the Court is satisfied, because of the nature or the circumstances of the case or otherwise in the interests of justice, that it is desirable, the whole or any part of proceedings under this section may be heard otherwise than in public.”.