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Cap. 555 · Arbiter For Financial Services Act (Cap. 555)

Cap. 555 ст. 23Precautionary acts. Cap. 12. Cap. 12. Cap. 12. Cap. 12.

PART V

ДействуетОфициальный текст

(1) Unless otherwise agreed by the parties, any party may request the court to issue any of the precautionary acts listed in article 830(1) of the Code of Organization and Civil Procedure, subject to the provisions of the following sub-articles.

(2) Where in accordance with sub-article (1) a precautionary act has been issued, such act shall remain in force until such time as it shall expire or be revoked in accordance with the provisions of the Code of Organization and Civil Procedure or until such time as the Arbiter -

(a) shall have determined that the complaint does not fall within his competence, or after deciding to discontinue with the complaint in terms of article 22; or

(b) having adjudged the complaint, shall order the party issuing the precautionary act to withdraw the same and issue the relative counter-warrant.

(3) Notwithstanding anything contained in the Code of

Organization and Civil Procedure the time established therein within which the action is to be instituted in respect of the right stated in the precautionary act issued shall be of twenty days from the filing of the judicial act whereby the court is requested to issue the precautionary act. The provisions of the said Code for the extension of the said time shall also apply.

(4) Action as is referred to in sub-article (3) shall be deemed to have been taken, and complaint procedures with the Arbiter shall be deemed to have commenced, when the complaint in writing is submitted by the complainant to the Arbiter in terms of article 22(1).

(5) The party at whose request a precautionary act has been issued in accordance with this article shall, within the time specified in sub-article (3), file a note in the records of the proceedings for the issue of the said precautionary act together with a certificate issued by the Arbiter acknowledging the party’s complaint.

(6) The Board established under article 29 of the Code of Organization and Civil Procedure may make rules concerning all matters relating to the issue of precautionary acts and other such orders when they relate to complaint procedures submitted to the Arbiter.