Article 39 - Improperly acquired shares

(1) If a Person has acquired, or has continued to hold, any shares in contravention of a determination or decision of the Regulatory Authority pursuant to Article 38(1) or (5) the Regulatory Authority may:
(A) withdraw the Authorisation of the Authorised Firm pursuant to Article 31(2)(C) (unless that Person has ceased to hold any shares or have control); or
(B) apply to the Tribunal for an order:
(i) restricting the transfer of any shares to which the obligations in Article 36 relate;
(ii) restricting the voting rights exercisable in respect of such shares;
(iii) restricting the issuing and transfer of further shares which may have been agreed to be issued or transferred;
(iv) requiring that, except in a liquidation, no payment be made of any sums of whatever nature due in respect of such shares; or
(v) requiring the sale of any such shares (in which event the sale proceeds less the costs of sale and any costs incurred by the Regulatory Authority in respect of obtaining such order shall be paid into the Tribunal for the benefit of the Persons beneficially interested in them),
and such other order ancillary to or necessary for the implementation of the above as the Tribunal shall think fit.