Section 112
( 1)
of Securities Markets Order, 2013
If at any time it appears to. the Authority -
{a)
that any requirement of recognition is not satisfied in the case of a recognised self-regulating organisation; or
(b)
that a recognised self-regulating organisation has failed to comply with any obligation to which it is subject by virtue of this Order, it may, instead of revoking the recognition, make an application to the Court under this section.
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(2} If on any such application the Court decides that the recognition requirement in question is not satisfied or that the self-regulating organisation has failed to comply with the obligation in question, it may order the organisation to take such steps as the Court directs for securing that that requirement is satisfied or that that obligation is complied with.
(3)
The jurisdiction conferred by this section shall be exercisable by the
High Court.
Notification requirements.