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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) Except where such a proceeding would constitute an appeal from a decision of the DFSA, the Financial Markets Tribunal has jurisdiction to hear and determine a proceeding between persons in relation 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 "commercial proceeding" for the purposes of this Part.
(4) In exercise of its jurisdiction under the Law, 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.
(5) In Article 56(2) "appeal" means a proceeding that lies or could lie to the Regulatory Appeals Committee.