§ 99 — Power of court to make certain orders

99.—(1) Where, on an application of the Authority, it appears to the court that a person —(a)

has committed an offence under this Act; or

(b)

is about to do an act that, if done, would be an offence under this Act,

the court may (without prejudice to any other order it may make) make one or more of the orders under subsection (2).

(2) The orders mentioned in subsection (1) are —(a)

in the case of a persistent or continuing contravention of a provision of this Act, an order restraining a person from —(i)

carrying on a business of providing one or more types of payment services;

(ii)

carrying on the business of an operator of a payment system;

(iii)

carrying on the business of a settlement institution of a payment system;

(iv)

holding itself out as a licensee; or

(v)

holding itself out as an operator, or a settlement institution, of a designated payment system;

(b)

for the purpose of securing compliance with any order made under this section, an order directing a person to do or refrain from doing any specified act; or

(c)

any ancillary order the court considers to be desirable as a result of making any other order under this section.

(3) The court may, before making an order under subsection (2), direct that notice of the application be given to such person as it thinks fit or that notice of the application be published in such manner as it thinks fit, or both.

(4) A person that, without reasonable excuse, contravenes an order made under subsection (2) shall be guilty of an offence and shall be liable on conviction —(a)

in the case of an individual, to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both; or

(b)

in any other case, to a fine not exceeding $100,000.

(5) Subject to subsection (6), subsection (4) does not affect the powers of the court in relation to the punishment of contempt of court.

(6) A person cannot be punished for contempt of court in respect of any contravention of an order made under subsection (2), for which the person has been convicted of an offence under subsection (4).

(7) A person cannot be convicted of an offence under subsection (4) in respect of any contravention of an order made under subsection (2) that has been punished as a contempt of court.

(8) The court may rescind, vary or discharge, or suspend the operation of, an order made by the court under this section.

—(1) Where, on an application of the Authority, it appears to the court that a person —(a)

has committed an offence under this Act; or

(b)

is about to do an act that, if done, would be an offence under this Act,

the court may (without prejudice to any other order it may make) make one or more of the orders under subsection (2).

(2) The orders mentioned in subsection (1) are —(a)

in the case of a persistent or continuing contravention of a provision of this Act, an order restraining a person from —(i)

carrying on a business of providing one or more types of payment services;

(ii)

carrying on the business of an operator of a payment system;

(iii)

carrying on the business of a settlement institution of a payment system;

(iv)

holding itself out as a licensee; or

(v)

holding itself out as an operator, or a settlement institution, of a designated payment system;

(b)

for the purpose of securing compliance with any order made under this section, an order directing a person to do or refrain from doing any specified act; or

(c)

any ancillary order the court considers to be desirable as a result of making any other order under this section.

(3) The court may, before making an order under subsection (2), direct that notice of the application be given to such person as it thinks fit or that notice of the application be published in such manner as it thinks fit, or both.

(4) A person that, without reasonable excuse, contravenes an order made under subsection (2) shall be guilty of an offence and shall be liable on conviction —(a)

in the case of an individual, to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both; or

(b)

in any other case, to a fine not exceeding $100,000.

(5) Subject to subsection (6), subsection (4) does not affect the powers of the court in relation to the punishment of contempt of court.

(6) A person cannot be punished for contempt of court in respect of any contravention of an order made under subsection (2), for which the person has been convicted of an offence under subsection (4).

(7) A person cannot be convicted of an offence under subsection (4) in respect of any contravention of an order made under subsection (2) that has been punished as a contempt of court.

(8) The court may rescind, vary or discharge, or suspend the operation of, an order made by the court under this section.