Revised Laws of Saint Lucia (2021)

156.   Orders of the high court

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    (1)   Where, on the application of the Commission, it appears to the High Court that a person has contravened this Act or the conditions of any licence, or is about to do an act with respect to dealing in securities that, if done, would be such a contravention, the High Court may, without prejudice to any order it would be entitled to make otherwise than under this section, make one or more of the following orders—

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      (a)     an order restraining a person from acquiring, disposing of, or otherwise dealing with any securities specified in the order;

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      (b)     in relation to a broker dealer, limited service broker, investment adviser or custodian, an order appointing a person to administer its property;

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      (c)     an order declaring the contract, if any, relating to any securities to be void or voidable;

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

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      (e)     any ancillary order which it considers necessary in consequence of the making of any other order under this section.

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    (2)   The High Court shall, before making an order under this section, satisfy itself, so far as it reasonably can, that the order would not unfairly operate to the detriment of any other person.

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    (3)   The High Court may, before making an order under subsection (1), direct that notice of the application be given to such persons as it thinks fit or direct that notice of the application be published in such manner as it thinks fit, or both.

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    (4)   The High Court may reverse, vary, or discharge an order made by it under this section or suspend the operation of such an order.