Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 15 : Financial Services TribunalPart 2 : Financial Services Tribunal224. Panels of Tribunal |
| (1) | The Chairperson must constitute a panel of the Tribunal for each application for reconsideration of a decision. |
| (2) | The panel constituted to consider an application for the reconsideration of a decision is the decision-making body of the Tribunal, and the panel exercises any of the powers of the Tribunal relating to the reconsideration of the decision. |
| (3) | The decision of the panel is the decision of the Tribunal as referred to in sections 234, 235 and 236 in respect of an application for the reconsideration of a decision. |
| (4) | A panel consists of— |
| (a) | a person to preside over the panel, who must be a person referred to in section 220(2)(a) or 225(2)(a)(i); and |
| (b) | two or more persons who are Tribunal members or persons on the panel list. |
| (5) | If, for any reason, a panel member is unable to complete proceedings for a reconsideration of a decision, the Chairperson may— |
| (a) | replace that member with a person referred to in subsection (4); |
| (b) | direct that the proceedings continue before the remaining panel members; or |
| (c) | constitute a new panel and direct the new panel to either continue the proceedings, or start new proceedings. |