Central Bank (Supervision and Enforcement) Act 2013

69.

Amendment of section 33AV of Act of 1942.

69.— Section 33AV of the Act of 1942 is amended by inserting the following after subsection (3):

“(3A) Subject to subsection (4), where the regulated financial service provider or person concerned in the management of the financial service provider with whom the Bank has entered into an agreement under this section fails to comply with any of the terms of the agreement, the Bank may apply to the High Court for an order under subsection (3B).

(3B) If satisfied on application to it under subsection (3A) that the regulated financial service provider or person concerned has failed to comply with any of the terms of the agreement under this section, the High Court may make an order requiring that regulated financial service provider or person to comply with those terms or that term, as the case may be.”.