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Up to Sep 13 2008Sep 14 2008 - Aug 20 2014Aug 21 2014 onwards

29. Powers to Hear and Determine an Appeal



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(1) Upon the chairman of the Regulatory Appeals Committee receiving a notice of an appeal falling within the jurisdiction of the committee, the chairman of the Regulatory Appeals Committee shall without undue delay select a panel of at least three members of the Regulatory Appeals Committee, one of whom may be its chairman, to exercise the powers and perform the functions of the Regulatory Appeals Committee to hear and determine the appeal.
(2) For the purposes of hearing and determining an appeal, the Regulatory Appeals Committee may:
(a) stay the decision of the DFSA to which an appeal relates and any related steps proposed to be taken by the DFSA until the committee has determined the appeal;
(b) consider any evidence relating to the decision of the DFSA to which the appeal relates, whether or not such evidence was available to the DFSA at the material time;
(c) receive and consider any material by way of oral evidence, written statements or documents, even if such material may not be admissible in evidence in civil or criminal proceedings in a court of law;
(d) determine the manner in which such material is received by the committee;
(e) by notice in writing require a person to attend before it at any sitting and to give evidence and produce any item, record or document in his possession relating to the subject matter of the appeal;
(f) administer oaths;
(g) examine or cause to be examined on oath or otherwise a person attending before it and require the person to answer truthfully any question which the committee considers appropriate for the purposes of the proceedings;
(h) order a witness to provide evidence in a truthful manner for the purposes of the proceedings by sworn statement;
(i) order a person not to publish or otherwise disclose any material disclosed by any person to the committee; or
(j) exercise such other powers or make such other orders as may be necessary for or ancillary to the conduct of the appeal or the performance of its function.
(3) At the conclusion of an appeal, the Regulatory Appeals Committee may:
(a) determine what, if any, is the appropriate action for the DFSA to take;
(b) remit the matter to the Chief Executive with such directions, if any, as the committee considers appropriate for giving effect to its determination, save that such directions may not require the DFSA to take any step which it would not otherwise have power to take; and
(c) make an order requiring a party to the appeal to pay a specified amount, being all or part of the costs of the appeal, including those of any party to the appeal. Such costs may be recovered from the recipient of the order in a Court of competent jurisdiction as a debt due to the party which incurred the costs.
(4) The Chief Executive must act in accordance with the determination of, and any direction given by, the Regulatory Appeals Committee.
(5) A certificate that purports to be signed by the chairman or proper officer of the Regulatory Appeals Committee and states that the Regulatory Appeals Committee on a specified day made a specified determination or made a specified finding of fact, is in any proceedings before the Court, where relevant:
(a) conclusive evidence of the determination of the Regulatory Appeals Committee made on that day; and
(b) prima facie evidence of the relevant finding of fact.