Revised Laws of Saint Lucia (2021)

185.   Court's powers in legal claims against Central Bank

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    (1)   In any court proceedings under this Act, the Court shall take into consideration the public interest.

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    (2)   In considering the public interest, the Court shall have regard to —

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      (a)     the critical importance of financial stability to the public interest;

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      (b)     the importance of permitting the Central Bank to discharge its functions in an expeditious and efficient manner in the interest of maintaining financial stability.

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    (3)   Any action under this Act by the Central Bank, official administrator or receiver that is the subject of any Court proceedings shall be allowed to continue unrestricted notwithstanding the challenge or review before the Court.

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    (4)   Where the Court is satisfied in any proceedings under this Act that —

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      (a)     a remedy in damages is available to the person who seeks relief; and

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      (b)     it would be just in all the circumstances, having regard to the public interest, to limit relief to an award of damages,

the Court shall limit relief in such proceedings to an award of damages.