All sections · Part XIII: Protected Cell Companies · Sub-Part II: Formation

223 Appeals from determinations and other decisions of Authority

(1) A person aggrieved by a decision of the Authority may, within 90 days
of service of notice of the decision of the Authority, appeal against the
other decisions of
decision to the Appeals Boardin accordance with the procedure specified
in the Financial Services Authority (Appeals Board) Regulations 2014,
including against a decision —

(a) to refuse an application for consent made under section 221;

(b) to impose terms or conditions upon that consent;

(c) to vary or revoke of any term or condition of that consent; or

(d) to impose any new term or condition on that consent; or

(e) to revoke that consent.

(2) On an application under this section the Appeals Board may —

(a) affirm the decision of the Authority;

(b) vary the decision of the Authority; or

(c) set aside the decision of the Authority and, if the Appeals Board
considers it appropriate to do so, remit the matter to the Authority
with such directions as the Appeals Board considers fit.

(3) Subject to subsection (4), an appeal against a decision of the Authority
shall not have the effect of suspending the operation of the decision.

(4) On an application under this section against a decision of the Authority,
the Appeals Board may, on the application of the appellant and on such
terms as the Appeals Board thinks just, suspend the operation of the
decision pending the determination of the appeal.

(5) A person dissatisfied with the decision of the Appeals Board may within
30 days of the decision make an appeal to the Court in accordance with
regulation 8(8) of the Financial Services Authority (Appeals Board)
Regulations 2014.

(6) The Court may, in respect of an appeal made under subsection (5), affirm,
set aside or vary the Appeals Board‘s decision and may give such
directions as the Court thinks fit and just.
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