Section 106D
Application for appeal of decisions
of Development Financial Institutions Act 2002
ActIn forceProvision 131 of 248
Section 106D
(1)
Any person who is aggrieved by a decision of the Bank under paragraph 106A(3)(b) or (e) may, within twenty-one days after the person has been notified of the decision, appeal by filing a notice in writing to the Monetary Penalty Review Committee established under the Financial Services Act 2013 or Islamic Financial Services
Act 2013.
(2)
The decision of the Bank under paragraph 106A(3)(b) or (e)
shall not take effect until the appeal is disposed of.
(3)
The Monetary Penalty Review Committee may decide to confirm the decision of the Bank or require the Bank to reconsider and reach a decision in accordance with the findings of the Committee.
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PART VIIIB
CIVIL ACTIONS