Cap. 637 чл. 31Appeals.  Cap. 330.        Cap. 330.            Cap. 330.   Cap. 330.

(1) In this article the Financial Services Tribunal means the Tribunal established under article 21 of the Malta

Financial Services Authority Act.

(2) Any person who is aggrieved by a decision of the competent authority under the ECSP Regulation or this Act, or any regulations or Rules issued thereunder, may appeal against such decision to the Tribunal within such period and under such conditions as are established under article 21 of the Malta Financial Services

Authority Act.

(3) Without prejudice to sub-article (2), any person who is aggrieved by the competent authority’s failure to take a decision in respect of an application for authorisation to act as a crowdfunding service provider which contains all the information required under the provisions in force within six (6) months of its submission, may appeal against such failure to decide to the Tribunal within such period and under such conditions as are established in terms of article

21 of the Malta Financial Services Authority Act.

(4) An appeal against a decision of the competent authority shall not suspend the operation of that decision: Provided that a decision of the competent authority to withdraw the authorisation of a crowdfunding service provider shall not become operative until the expiration of the period within which an appeal lies under this article and, if an appeal is filed within such period, the decision shall become operative on the date of the decision of the Tribunal dismissing the appeal or on the date on which the appeal is abandoned.

(5) Subject to the provisions of this article, the provisions of article 21 of the Malta Financial Services Authority Act shall apply to appeals that may be brought before the Tribunal mutatis mutandis under this article.