All provisions · AML/CFT Act (Cap. 251) · Part Vii: Supervision and enforcement of compliance

62 Appeals

(1) Any reporting entity aggrieved by the decision of the supervisory authority may appeal to the Appeals Board against the decision made under section 60 of this Act.
(2) An appeal shall be filed within 30 days of the delivery of the decision by the supervisory authority, in the form and manner and before such officer of the Ministry; and on payment of such fees as may be prescribed by the Minister.
(3) An appeal shall be decided on the affidavits and supporting documents presented to the Appeals Board by the parties to the appeal within 30 days from the date of submission of the documents.
(4) Notwithstanding anything contained in subsection (4), the Appeals Board may—
(a) summon any person who, in its opinion, may be able to give information for the purposes of deciding the appeal or who it believes has in his, her or its possession, custody or control of any document which has any bearing upon the decision under appeal, to appear before it on a date, time and place specified in the

summons, to be questioned or to produce any relevant document and retain for examination any document so produced;
(b) administer an oath to or accept an affirmation from any person called as a witness at an appeal; and
(c) call any person present at the appeal proceedings as a witness and require such person to produce any document in his or her possession, custody or control.
(5) The Chairperson of the Appeals Board may determine any other procedural matters relating to an appeal.
(6) An applicant or respondent to an appeal is entitled to be represented by a legal practitioner or any person of his or her choice.
(7) The Appeals Board may—
(a) confirm, set aside or vary a decision of the supervisory authority;
or
(b) refer a matter back for reconsideration by the supervisory authority concerned in accordance with the directions of the Appeals Board.
(8) The decision of a majority of the members of the Appeals Board constitutes the decision of the Board.
(9) The decision of the Appeals Board shall be in writing, and a copy thereof shall be made available to the appellant and the supervisory authority.
(10) If the Appeals Board sets aside the decision of the supervisory authority, the fees paid by the appellant under subsection (2) in respect of the appeal shall be refunded to the appellant.
(11) If the Appeals Board varies any such decision, it may direct that the whole or any part of such fees be refunded to the appellant.
(12) The decision of the Appeals Board may be taken on appeal to the Supreme Court as if it were a decision of a Magistrate in a civil matter.

Official source: Anti-Money Laundering and Countering the Financing of Terrorism Act (Cap. 251), Act 5 of 2020, Revised Edition as at 17 January 2025 (Acts 5 of 2020, 7 of 2021, 8 of 2021, 62 of 2021, 9 of 2022, 12 of 2024, S.I. 145 of 2020)

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