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Up to Sep 13 2008Sep 14 2008 onwards

56. Jurisdiction of the Financial Markets Tribunal



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(1) Without in any way limiting the jurisdiction of the Financial Markets Tribunal conferred upon it by any other DIFC Law, the Financial Markets Tribunal has additional jurisdiction as set out in Article 56(2).
(2) The Financial Markets Tribunal has jurisdiction to hear and determine proceedings relating to:
(a) an issue arising out of supervision relating to an Authorised Market Institution other than a direction under Article 9(2);
(b) an issue arising out of offers of Securities arising under this Law;
(c) an issue arising out of a takeover, Takeover Offer, merger or acquisition of shares; or
(d) any matter that may be prescribed by law or the Rules for the purpose of this Article.
(3) A proceeding brought under Article 56(2) shall be referred to as a "regulatory proceeding" for the purposes of this Part.
(4) A regulatory proceeding under this Part does not include an appeal of a DFSA decision.
(5) A regulatory proceeding under this Part may be brought by the DFSA or by another person with the consent of the DFSA.
(6) Subject to Article 56(7), an appeal from a determination from the Financial Markets Tribunal may be made to the Court pursuant to Article 32(5) of the Regulatory Law 2004.
(7) An appeal lies to the Court on a point of law from a determination by the Financial Markets Tribunal of an appeal to the Tribunal prescribed by Rules made by the DFSA for the purposes of this Article.