Central Bank Act, 1989.
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Directions by Bank to suspend trading, dealing. |
105.—(1) Where the Bank is satisfied that an exchange or any member thereof has failed or is failing to comply with a condition or requirement under section 100 (2) (a) or 101 the Bank may give a direction to either or both— | |
(a) the exchange to suspend trading, and | ||
(b) any or all of the members of the exchange to suspend trading or dealing thereon, | ||
for a specified period or until further notice by the Bank. | ||
(2) (a) The exchange or member or members thereof to whom the direction was given under subsection (1) may apply in a summary manner to the Court for, and the Court may grant, an order setting aside the direction. | ||
(b) The Bank may apply in a summary manner to the Court to have a direction by it under this section confirmed by the Court. | ||
(3) The Court when considering the matter may make such interim or interlocutory order as it considers appropriate. | ||
(4) 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. | ||
(5) In this section “the Court” means the High Court. |