Building Societies Act, 1989
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Power of Court to prohibit certain contraventions of Act. |
43.—(1) Where, on an application made in a summary manner by the Central Bank, the Court is of the opinion that there has occurred or is occurring— | |
(a) a contravention of this Act, | ||
(b) a failure to comply with a condition imposed in relation to an authorisation by virtue of section 17 , or with a direction under section 40 or 42 , or | ||
(c) a failure to comply with a condition imposed on an approval under section 36 to exercise an adoptable power, | ||
the Court may, by order, prohibit the continuance of the contravention or failure by the person or persons concerned, or in the case of paragraph (c), require the cessation of the exercise of the adoptable power. | ||
(2) The Court when considering the application may make such interim or interlocutory order as it considers appropriate. | ||
(3) The foregoing provisions of this section are without prejudice to the general functions of the Central Bank. | ||
(4) Where the Court is satisfied, because of the nature or 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 held otherwise than in public. |