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48. Power to award damages (or order undertakings as to damages) as well as, or in substitution for, injunction or specific performance

(1) Where the Court of Appeal or the Court of First Instance has jurisdiction to entertain an application for an injunction or specific performance, it may —
(a) award damages in addition to, or in substitution for, an injunction or specific performance;
(b) order the applicant to give the Court an undertaking as to damages as a condition for granting an injunction or order.
(2) Court procedure rules may provide the circumstances in which the Court of Appeal or the Court of First Instance has jurisdiction under subsection (1).
(3) Subject to subsection (4), where the Registration Authority or the Financial Services Regulatory Authority applies to the Court for the grant of an injunction under section 41, or under any other ADGM enactment, the Court shall not require the applicant to give an undertaking as to damages as a condition of granting an interim injunction, provided that, and only that, the application is made solely in exercise of the applicant's public function.
(4) Where the Registration Authority or the Financial Services Regulatory Authority applies to the Court for the grant of an injunction under section 41, or under any other ADGM enactment, the Court must require the applicant to give an undertaking as to damages as a condition of granting an interim injunction where the applicant is acting wholly or in part in a private capacity.