Cap. 514 Art. 44Appeals.

(1) Subject to the provisions of this article, an appeal shall lie to the Financial Services Tribunal established under article 21 of the Malta Financial Services Authority Act with respect to:

(a) any notice in accordance with articles 4(4), 5(3) and 6(3);

(aA) any condition imposed in a licence in terms of article 9(3);

(b) any failure to inform an applicant within the terms of article 9(8);

(c) any refusal, variation, cancellation or suspension of a licence under articles 9, 10 and 11;

(d) any decision under article 32(5);

(e) any directive given under article 41; or

(f) any administrative penalty or other measures imposed under article 46.

(2) An appeal made under this article shall not suspend the operation of any decision or directive from which the appeal is made: Provided that a decision to cancel a licence shall not become operative until the expiration of the period within which an appeal lies under this article and, if an appeal is made within such period, Authority Act shall apply mutatis mutandis to appeals made to the Tribunal under this Act.

(4) The Financial Services Tribunal shall have exclusive competence to hear appeals on the matters listed in sub-article (1).