Hong Kong Ordinances

CLEARING AND SETTLEMENT SYSTEMS ORDINANCE - SECT 34

Establishment of Clearing and Settlement Systems Appeals Tribunal

PART 4

APPEALS TRIBUNAL

(1) There is established by this section a tribunal to be known as the
“Clearing and Settlement Systems Appeals Tribunal” in English and
“結算及交 收系統上訴審裁處” in Chinese.

(2) For the purpose of reviewing any decision referred to the Tribunal under
this Part, the Tribunal is to consist of—

   (a)  the Chairman of the Tribunal; and

   (b)  such number of persons, not being fewer than 2, from the panel
        referred to in subsection (4) as the Financial Secretary may, on the
        recommendation of the Chairman of the Tribunal, appoint for that
        purpose.

(3) The Chief Executive shall, on the recommendation of the Chief Justice,
appoint to be the Chairman of the Tribunal a person who is—

   (a)  a judge, or a deputy judge, of the Court of First Instance;

   (b)  a former Justice of Appeal of the Court of Appeal; or

   (c)  a former judge, or a former deputy judge, of the Court of First
        Instance.

(4) The Chief Executive shall appoint a panel of persons, not being public
officers, whom he considers suitable for appointment as members of the
Tribunal.

(5) The Chairman of the Tribunal (except where the Chairman is a judge, or a
deputy judge, of the Court of First Instance), and members, of the Tribunal
may be paid, as a fee for their services, such amount as the Chief Executive
considers appropriate. Those amounts payable to the Chairman of the Tribunal
shall be a charge on the general revenue, and those amounts payable to the
members shall be a charge on the Exchange Fund established under section 3 of
the Exchange Fund Ordinance ( Cap 66).

(6) Schedule 1 has effect with respect to the Tribunal.

(7) Subject to this section and Schedule 1 and to rules made under section 40,
the Chairman of the Tribunal may determine the procedures and practice of the
Tribunal.