34 (1) Where the Commission is satisfied that a licensee is contravening, or is likely to contravene any of the provisions of this Act or rules or regulations made thereunder or any of the conditions of the licence, it shall either by an interim order under sub-section (4) or by a final order under section 35, issue such directions as it deems proper for preventing such contravention
34 (2) In determining whether it is appropriate that an interim order be made, the Commission shall have regard, in particular to-
(a) the extent to which the contravention of likely contravention by the licensee may affect the purposes of this Act;
(b) the extent to which any person is likely to sustain loss or damage in consequence of such contravention before a final order is made; and
(c) whether there is any remedy available to prevent such contravention.
34 (3) If the Commission proposes to make an interim order, it shall give notice of the proposed interim order to the licensee setting out therein the following, namely:-
(i) the contravention that the proposed order is intended to prevent;
(ii) the acts or omissions which, in its opinion constitute such contravention;
(iii) the facts which in its opinion, justify the making of the proposed order;
(iv) the effects of the proposed order; and
(v) the period, being not less than fifteen days from the date of notice, within which the licensee may show cause why the proposed order be not made.
34 (4) The Commission may after considering the reply of the licensee to the notice, if any, make such interim order as it thinks fit at any time after the expiry of the period specified in the notice, if the Commission has reason to believe that,-
(a) the licensee to whom the notice was given has contravened or is contravening or is likely to contravene any of the provisions of this Act or rules or regulations made thereunder or any condition of licence; and
(b) the order is necessary for the purpose of preventing such contravention.
34 (5) An interim order -
(a) may provide for the taking over of the management of the Licensee's Undertakings and functions and authorizing any person or body of persons to manage the affairs and exercise in respect of the whole or any part of the undertaking of the licensee, such functions or control may be specified in the order till further orders of the Commission;
(b) may require the licensee to do, or abstain from doing, such things as are specified in the order;
(c) shall take effect from such date, as is specified in the order; and
(d) shall cease to have effect on such date as is specified in the order unless the order is rescinded earlier:
Provided that where the Commission has commenced the procedure for making the interim order as final order before the cesser of the interim order, the interim order shall not cease to have effect and shall continue to be in force till a final order is made.
34 (6) Where the Commission has made an interim order, it shall as soon as possible thereafter,-
(a) serve a copy of the order on the licensee and publish the same in such manner as it deems fit, and
(b) commence proceedings to declare the interim order to be a final order in accordance with section 35,