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The Investment Services Regulations 1995
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- UK Statutory Instruments
- 1995 No. 3275
- PART VIII
- Regulation 54
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Directions to the Bank
54.—(1) If it appears to the Treasury—
(a)that any action proposed to be taken by the Bank would be incompatible with the provisions of the Investment Services Directive or the Capital Adequacy Directive; or
(b)that any action which the Bank has power to take is required for the purpose of implementing any provision of those Directives,
they may direct the Bank not to take or, as the case may be, to take the action in question.
(2) A direction under this regulation may contain such supplementary or incidental requirements as the Treasury think necessary or expedient.
(3) A direction under this regulation is enforceable by injunction or, in Scotland, by an order under section 45 of the Courts of Session Act 1988(1).
(1)
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