Financial Advisers Act |
Financial Advisers (Appeals) Regulations |
Rg 3 |
G.N. No. S 791/2005 |
REVISED EDITION 2007 |
(2nd July 2007) |
[9th December 2005] |
Citation |
1. These Regulations may be cited as the Financial Advisers (Appeals) Regulations. |
Definitions |
2. In these Regulations, unless the context otherwise requires —
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Secretary of Appeal Advisory Panel |
Members of Appeal Advisory Committee |
4.—(1) Every Appeal Advisory Committee shall consist of —
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Meetings and hearings of Appeal Advisory Committee |
5.—(1) The quorum of any meeting or hearing of an Appeal Advisory Committee shall be 2 persons, of whom one shall be the chairman or alternate chairman, and no meeting or hearing shall be proceeded with unless such a quorum is present.
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Procedure for appeals to Minister |
6.—(1) An appellant shall appeal to the Minister by lodging with the secretary —
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Submission of additional information or documents |
7.—(1) Any party (referred to in this regulation as the first‑mentioned party) intending to rely on any additional information or documents it has not furnished to the Appeal Advisory Committee or the other party (referred to in this regulation as the second-mentioned party) under regulation 6 shall forward copies of such information or documents to the secretary and the second-mentioned party not later than 21 days before the date of the hearing before the Committee.
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Appeal Advisory Committee to conduct hearing |
8.—(1) The Appeal Advisory Committee shall conduct a hearing within 28 days from the date that it is constituted and shall give the Authority and the appellant (or his advocate and solicitor) a reasonable opportunity to appear before and be heard by the Committee.
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Withdrawal of appeal |
9. The appellant may at any time, before the Minister confirms, varies or reverses the decision of the Authority on appeal, withdraw his appeal by serving on the secretary a written notice to that effect. |
Postponements |
10. An Appeal Advisory Committee may postpone or adjourn any meeting or hearing of the Committee at any time. |
Meeting and hearing not open to public |
11. Every meeting and hearing of an Appeal Advisory Committee shall be held in private. |
Submission of confidential information to Appeal Advisory Committee |
12.—(1) Any information provided by the Authority to the Appeal Advisory Committee which is —
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Confidentiality |
13.—(1) Subject to paragraph (2), no person shall, unless authorised by the Minister, disclose any information, document or evidence (whether oral or documentary) tendered or produced under these Regulations, or any part thereof, to any other person, except to the secretary, a member of the Appeal Advisory Committee, the Authority or the appellant (or his advocate and solicitor).
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Non-compliance with Regulations |
14.—(1) Any non-compliance by any party with any requirement in these Regulations shall not nullify the appeal or the response to the appeal.
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Report of Appeal Advisory Committee |
15.—(1) The Appeal Advisory Committee shall submit its report to the Minister within 14 days of the conclusion of the hearing, or such period as may be permitted by the Minister upon the request of the Committee made before the expiry of the period of 14 days.
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Exclusion from section 88 of Act |
16. Section 88 of the Act shall not apply to any offence under regulation 8(11), 13(3) or 15(4). |
Dissolution of Appeal Advisory Committee |
17. An Appeal Advisory Committee constituted in respect of an appeal shall dissolve upon the withdrawal of that appeal or upon the Minister confirming, varying or reversing the decision of the Authority on appeal. |