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Article (11): Appeal Mechanism

C 10/2020 Effective from 10/2/2021
  1. For the purposes of this Regulation, the relevant Central Bank’s decisions that may be subject to appeal before the Grievances & Appeals Committee include: -
     
    1. 1.1. licensing and designation of RPS;
       
    2. 1.2. revocation of License and designation of RPS; and
       
    3. 1.3. any Central Bank’s actions undertaken against a violating Person.
       
  2. Under the Regulation, any Person aggrieved by any of the decisions set out in paragraph 1 of this Article may refer the decision to the Grievances & Appeals Committee in writing for review.
     
  3. Any person who intends to refer any of the relevant decisions of the Central Bank to the Grievances & Appeals Committee is required to do so in writing to the Central Bank stating the grounds on which the review is sought.