19.— (1) Subject to subsection (2), where the Bank is of the opinion that a person has failed or is failing to comply with any condition or requirement imposed by this Part or by the terms of a contract referred to in section 12(1), the Bank may apply to the High Court for an order enforcing the obligations of that person under this Part or under the terms of such a contract.

(2) Where the Bank is of the opinion that a regulated financial service provider has failed or is failing to comply with a condition or requirement imposed by this Part the Bank may give a direction under section 45.