173. Appeal to Panel

(1)

Where the Authority-

(a}

refuses to grant or renew a licence;

(b)

refuses to vary a licence; or

(c)

revokes or suspends a licence, the person who is aggrieved by the decision of the Authority, may, within 14 days after the person has been notified of the decision of the Authority, appeal to the

Panel.

(2)

Where an appeal is made to the Panel under subsection (1), the decision of the Authority shall not take effect until the appeal is disposed.

(3)

On an appeal against the decision of the Authority under subsection (1), the Panel may -

(a}

affirm the decision of the Authority;

(b)

set aside the decision of the Authority; or

(c)

make a decision as it thinks fit.

1365

(4)

Any person who is aggrieved by any decision of the Panel may, within 14 days after the person has been notified of the decision of the Panel, appeal to the Minister whose decision shall be final.

Report

Part VIII

Books, Audit and Client'S Assets

Part IX

Read on from Part IX

Part X

Intervention Powers of Authority

Read on from Part X

Part XI

Complaints Committee and Investor Compensation Scheme

Read on from Part XI

Part XII

Financial Markets Services Panel

Read on from Part XII

Part XIII

General

Read on from Part XIII