Financial Markets Act, 2012 (Act No. 19 of 2012)

Chapter XII : General provisions

Miscellanea

105. Right of appeal

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(1)A person aggrieved by a decision of—
(a)the Authority under a power conferred or a duty imposed upon the Authority by or under this Act or the Financial Sector Regulation Act;
(b)an exchange to refuse an application by that person to be admitted as an authorised user;
(c)an exchange to withdraw the authorisation of an authorised user or to direct an authorised user to terminate the access to the exchange by an officer or employee of such authorised user;
(d)an exchange to defer, refuse or grant an application for the inclusion of securities in the list or to remove securities from the list or to suspend the trading in listed securities;
(e)a central securities depository to refuse an application by a person to be accepted as a participant;
(f)a central securities depository to terminate the participation of a participant or to direct a participant to terminate the access to the central securities depository by an officer or employee of a participant;
(g)an independent clearing house or central counterparty to refuse an application by a person to be admitted as a clearing member;
(h)an independent clearing house or central counterparty to withdraw the authorisation of a clearing member or to direct a clearing member to terminate the access to the independent clearing house or central counterparty by an officer or employee of such clearing member;
(i)an exchange, central securities depository or independent clearing house or central counterparty to impose a penalty on an authorised user, issuer, participant or clearing member of an independent clearing house or central counterparty, as the case may be, or on an officer or employee of an authorised user, issuer, participant or clearing member of an independent clearing house or central counterparty,

may approach the Tribunal for a reconsideration of the decision.

[Section 105(1) substituted by section 290, item 74(a) of Schedule 4, of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), Notice No. 853, GG 41060, dated 22 August 2017 - effective 9 February 2018 (Notice R. 99, GG 41433, dated 9 February 2018)]

 

(2)[Section 105(2) deleted by section 290, item 74(b) of Schedule 4, of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), Notice No. 853, GG 41060, dated 22 August 2017 - effective 9 February 2018 (Notice R. 99, GG 41433, dated 9 February 2018)]