(1) This section applies if a third party -

(a) has failed to -

(i) comply with a requirement of the Authority under section 780(1)(c) requiring the third party to produce books or documents, or

(ii) provide an explanation, make a statement or give assistance as required by section 784,

and

(b) has, in either case, failed to remedy the default within 14 days after the date of service by the Authority on the third party of a notice requiring the third party to remedy the default.

(2) In any case to which this section applies, the court, on the application of the Authority, and having given the third party an opportunity to be heard, may order the third party to remedy the default within such time as the court specifies.

(3) In making an order under subsection (2), the court may order the third party to pay all costs of and incidental to the application.

(4) Nothing in this section shall be taken to prejudice the operation of section 785(1) and (2).