239. Restitution orders

(1) The Court may, on the application of the Regulator, make an order under subsection (2) if it is satisfied that a person has contravened these Regulations or any Rules made under these Regulations, or been Knowingly Concerned in such contravention, and —
(a) that profits have accrued to him as a result of the contravention; or
(b) that one or more persons have suffered loss or been otherwise adversely affected as a result of the contravention.
(2) The Court may order the person concerned to pay to the Regulator such sum as appears to the Court to be just and equitable having regard —
(a) in a case within paragraph (a) of subsection (1), to the profits appearing to the Court to have accrued;
(b) in a case within paragraph (b) of subsection (1), to the extent of the loss or other adverse effect;
(c) in a case within both of those paragraphs, to the profits appearing to the Court to have accrued and to the extent of the loss or other adverse effect.
(3) Any amount paid to the Regulator in pursuance of an order under subsection (2) must be paid by it to such Qualifying Person or distributed by it among such Qualifying Persons as the Court may direct.
(4) On an application under subsection (1) the Court may require the person concerned to supply it with such accounts or other information as it may require for any one or more of the following purposes —
(a) establishing whether any and, if so, what profits have accrued to him as mentioned in paragraph (a) of subsection (1);
(b) establishing whether any person or persons have suffered any loss or adverse effect as mentioned in paragraph (b) of subsection (1) and, if so, the extent of that loss or adverse effect; and
(c) determining how any amounts are to be paid or distributed under subsection (3).
(5) The Court may require any accounts or other information supplied under subsection (4) to be verified in such manner as it may direct.
(6) Nothing in this section affects the right of any person other than the Regulator to bring proceedings in respect of the matters to which this section applies.