Hong Kong Ordinances

CLEARING AND SETTLEMENT SYSTEMS ORDINANCE - SECT 39

Appeal to Court of Appeal

(1) An applicant or the Monetary Authority may, if dissatisfied with a
determination delivered under section 35(8), appeal to the Court of Appeal
against the determination on a point of law.

(2) Where an appeal has been lodged under subsection (1) the Court of Appeal
may, on application made to it, order a stay of execution of the determination
of the Tribunal, subject to such conditions as to costs, payment of money into
the Tribunal or otherwise as the Court of Appeal considers appropriate; but
the lodging of an appeal under subsection (1) does not of itself operate as a
stay of execution of the determination of the Tribunal.

(3) The Court of Appeal may affirm, set aside or vary the determination
appealed against, or may remit the matter in question to the Tribunal with
such directions as it considers appropriate.

(4) The Rules of the High Court (Cap 4 sub. leg. A) apply in relation to such
an appeal to the extent that those Rules are not inconsistent with this
Ordinance.

(5) In an appeal under this section, the Court of Appeal may make such order
for payment of costs as it considers appropriate.