Try asking the following...
RULING
ATUGUBA JSC:-
The applicant moves this Court for:
1. “An order of certiorari directed to the High Court, Commercial Division, presided over by His Lordship Justice Koomson to move into this Court for the purpose of being quashed the ruling dated 23rd June 2014 in which it assumed jurisdiction to entertain Suit No: BFS/144/14;
2. An order of certiorari to quash the order made by the High Court (Commercial Division) in Suit No: BFS/144/14, on 23 June 2014 in which the High Court upheld a preliminary objection by the Plaintiff/1st Interested Party herein, to the application by 1st Defendant/Applicant herein to strike out the pleading of Plaintiff as disclosing no cause of action basing itself on the ground that the 1st Defendant/Applicant herein had not entered appearance;
3. Consequent upon (1) and (2) above, an order of prohibition restraining the said High Court from proceeding with the hearing of the interlocutory application and the suit;
4. Consequent upon (1) and (9) above, orders setting aside the writ of summons, striking out the suit and the application for interlocutory injunction in the said suit;
….Grounds for seeking this order:
a) The High Court lacked jurisdiction to entertain the suit when Section 8 (c) of the Securities Industry Law 1993 (PNDCL 333) required that any complaint, dispute or violation arising under the law be submitted to the Securities and Exchange Commission before redress is sought in the courts and the High Court acknowledged that this prior step had not been taken by the Plaintiff.”
Several grounds were argued for and against the application by both sides. However, we propose to deal with what can be described as the principal ground in this application, for the success or failure of that ground gravely affects the other grounds argued.
The principal ground for the application is ground (a) supra.
Section 8 (c) of the Security Industry Act, 1993 (PNDCL 333) provides thus:
“Section 8C—Submission of Complaint and Examination of Issues.
(1) A complaint, dispute or any violation arising under this Act shall, before any redress is sought in the courts, be submitted to the Commission for hearing and determination in accordance with this Part.
(2) A matter to which subsection (1) applies shall be submitted in writing to the Director-General of the Commission and where it is not in writing the Director-General shall cause the matter to be reduced into writing.
(3) The Director-General shall cause the matter to be