Cap. 450 Art. 54Appeals. Cap. 330. Cap. 330.

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

(a) any determination in accordance with article 3(5);

(b) any refusal, variation, cancellation or suspension of a

(d) any decision to make a public statement, under the provisions of article 59, as to a person’s misconduct; or

(e) any administrative penalty in respect of infringements as may be prescribed under article 7, 8, 17 and 24.

(2) An appeal under this article shall lie only on any of the following grounds:

(a) that the Authority has wrongly applied any of the provisions of this Act; or

(b) that the decision or Directive of the Authority constitutes an abuse of discretion and is manifestly unfair, but the discretion of the Authority may not, so long as it has been exercised properly, be queried by the Tribunal.

(3) 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 registration 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, the decision shall become operative on the date of the decision of the Tribunal dismissing the appeal or the date on which the appeal is abandoned: Provided further that a decision to issue a statement as to a person's misconduct shall not be published until expiration of the period within which an appeal lies under this article and, if an appeal is made within such period, the statement shall not be published before the date of the decision of the Tribunal dismissing the appeal or the date on which the appeal is abandoned.

(4) The provisions of article 21 of the Malta Financial Services Authority Act shall, except in so far as any of them is incompatible with the provisions of this article, apply to appeals made to the Tribunal under this Act.