225. Jurisdiction and Role of the Regulatory Committee
(1) Any decision made under these Regulations by the Regulator which may affect the rights or liabilities of a person or otherwise adversely affect the interests of a person, may be referred by that person to the Regulatory Committee for a full merits review.
(2) A reference under subsection (1) shall be commenced —
(a) within 30 days of the relevant decision of the Regulator; or
(b) within such further period not exceeding 30 days as may be approved by the Regulatory Committee where it is satisfied that such approval is appropriate in the circumstances.
(3) In the case of an exercise of the power under section 111, the referral may be made by the Fund Manager and the Trustee of the Public Fund concerned or either of them, in addition to the Public Fund.
(4) The Regulatory Committee has power to do whatever it deems necessary for or in connection with, or reasonably incidental to, the performance of its functions.
(5) The Regulator may refer an executive decision to the Regulatory Committee for determination if it considers it appropriate to do so.
(6) The Regulatory Committee may adopt any procedures or practices governing the commencement, hearing and determination of references made to it.
(7) Proceedings of the Regulatory Committee shall be heard in private, unless the Regulatory Committee decides otherwise.
|Amended on (13 January, 2020).|