Page:Clearing and Settlement Systems Ordinance (Cap. 584).pdf/28

CLEARING AND SETTLEMENT SYSTEMS ORDINANCE

the Tribunal shall be a charge on the general revenue, and those amounts payable to the members shall be a charge on the Exchange Fund established under section 3 of the Exchange Fund Ordinance (Cap. 66).

(6) Schedule 1 has effect with respect to the Tribunal.

(7) Subject to this section and Schedule 1 and to rules made under section 40, the Chairman of the Tribunal may determine the procedures and practice of the Tribunal.

35. Review of decisions by Tribunal

(1) Any person who is aggrieved by a decision of the Monetary Authority under section 4(1), 5(1), 16(1) or 17(1) may refer the decision to the Tribunal for review.

(2) A reference to the Tribunal under subsection (1) by a person aggrieved is—
 * (a) to be made in writing;
 * (b) to be made—
 * (i) if the reference relates to a decision of the Monetary Authority under section 4(1) or 5(1), within 30 days after publication in the Gazette of the notice referred to in that section;
 * (ii) if the reference relates to a decision of the Monetary Authority under section 16(1) or 17(1), within 30 days after receiving notice in writing given by the Monetary Authority informing him of the decision,
 * or within such further time as the Tribunal may, in the circumstances of any particular case, think fit; and
 * (c) to state the grounds for the review.

(3) The Tribunal shall deliver to the Monetary Authority a copy of any reference under subsection (1) that it has received.

(4) A reference under subsection (1) does not suspend the decision to which the reference relates.

(5) As soon as practicable after receipt of a copy of a reference delivered under subsection (3), the Monetary Authority shall forward a copy of the decision to which the reference relates together with all other relevant papers in his possession to the Tribunal.

(6) On receipt of the copy of the decision, and of the papers, forwarded under subsection (5), the Tribunal shall review the decision in question and, after taking into account the stated grounds for the review, may make its determination to—
 * (a) confirm, vary or set aside the decision; or
 * (b) remit the matter to the Monetary Authority with any direction that it considers appropriate.