Regulation 17 Application to a court for an injunction
If, on the application of the FCA, a court is satisfied—
that there is a reasonable likelihood that a credit rating agency will contravene a requirement imposed by or under these Regulations, or by or under the CRA Regulation, or
that a credit rating agency has contravened such a requirement and that there is a reasonable likelihood that the contravention will continue or be repeated,
the court may make an order restraining (or in Scotland an interdict prohibiting) the contravention.
If, on the application of the FCA, a court is satisfied—
that a credit rating agency has contravened a requirement imposed by or under these Regulations or by or under the CRA Regulation, and
that there are steps which could be taken for remedying the contravention,
the court may make an order requiring the credit rating agency, and any other person who appears to have been knowingly concerned in the contravention, to take such steps as the court may direct to remedy it.
If, on the application of the FCA, a court is satisfied that a credit rating agency may have—
contravened a requirement imposed by or under these Regulations or by or under the CRA Regulation, or
been knowingly concerned in the contravention of such a requirement,
the court may make an order restraining (or in Scotland an interdict prohibiting) the credit rating agency from disposing of, or otherwise dealing with, any assets which it is satisfied the credit rating agency is reasonably likely to dispose of or otherwise deal with.
The jurisdiction conferred by this regulation is exercisable by the High Court and the Court of Session.
In paragraph (2), references to remedying a contravention include references to mitigating its effect.