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CLEARING AND SETTLEMENT SYSTEMS ORDINANCE - SCHEDULE 1
PROVISIONS RELATING TO CLEARING AND SETTLEMENT SYSTEMS APPEALS TRIBUNAL
[sections 34, 40 & 57]
1. Interpretation
In this Schedule—
“panel member” (小組成員) means a member of the panel referred to in section 34(4) of this Ordinance;
“parties” (各方), in relation to a review of a decision of the Monetary Authority, means the applicant and the Monetary Authority;
“Tribunal member” (審裁處成員) means a member of the Tribunal appointed under section 34(2)(b) of this Ordinance.
2. Tenure of Chairman of the Tribunal
(1) The Chairman of the Tribunal shall be appointed for a term not exceeding 3 years.
(2) On the expiry of his period of appointment or reappointment, the Chairman of the Tribunal is eligible for reappointment for such further term as the Chief Executive may specify.
(3) The Chairman of the Tribunal may resign from office by giving notice in writing to the Chief Executive. A notice of resignation takes effect on the date specified in the notice or, if no date is specified, on the date of receipt by the Chief Executive of the notice.
(4) If the Chief Executive is satisfied that the Chairman of the Tribunal—(a) has become bankrupt;
(b) is incapacitated by physical or mental illness; or
(c) is otherwise unable or unfit to perform the functions of the Chairman of the Tribunal,
the Chief Executive may, after consultation with the Chief Justice, declare his office as Chairman of the Tribunal to be vacant, and shall notify the fact in such manner as the Chief Executive thinks fit; and upon such declaration the office becomes vacant.
(5) If a review has been commenced by the Tribunal but not completed before the expiry of the term of office of the Chairman of the Tribunal, the Chief Executive may extend the term of office of the Chairman until the completion of the review.
3. Tenure of panel members
(1) A panel member shall be appointed for a term not exceeding 3 years.
(2) On the expiry of his period of appointment or reappointment, a panel member is eligible for reappointment for such further term as the Chief Executive may specify.
(3) A panel member may resign from office by giving notice in writing to the Chief Executive. A notice of resignation takes effect on the date specified in the notice or, if no date is specified, on the date of receipt by the Chief Executive of the notice.
(4) If the Chief Executive is satisfied that a panel member—(a) has become bankrupt;
(b) is incapacitated by physical or mental illness;
(c) is otherwise unable or unfit to perform the functions of a Tribunal member; or
(d) has become a public officer,
the Chief Executive may declare his office as panel member to be vacant, and shall notify the fact in such manner as the Chief Executive thinks fit; and upon such declaration the office becomes vacant.
4. Sittings
(1) The Chairman of the Tribunal shall convene such sittings of the Tribunal as are necessary to determine a review.
(2) Before convening a sitting under subsection (1) in respect of a review, the Chairman of the Tribunal may give directions to the parties to the review concerning—(a) procedural matters to be complied with by any of the parties; and
(b) the time within which such procedural matters are to be complied with.
(3) At a sitting of the Tribunal—(a) the Chairman of the Tribunal shall preside;
(b) not fewer than 2 Tribunal members shall also be present; and
(c) every question before the Tribunal shall be determined by the opinion of the majority of those referred to in paragraphs (a) and (b) except a question of law which shall be determined by the Chairman of the Tribunal alone.
(4) Every sitting of the Tribunal shall be held in public unless the Tribunal, on its own motion or on the application of any of the parties to the review, determines that in the interests of justice a sitting, or any part of a sitting, shall not be held in public in which case it may hold the sitting, or the relevant part of the sitting, as the case may be, in camera.
(5) If an application is made pursuant to subsection (4) for a determination that a sitting, or any part of a sitting, shall not be held in public, a hearing of the application shall be held in camera.
(6) The parties to a review shall, at any sitting of the Tribunal relating to the review, be entitled to be heard—(a) in person or, in the case of the Monetary Authority, through a person appointed under section 5A(3) of the Exchange Fund Ordinance (Cap 66) to assist the Monetary Authority; or
(b) through counsel or a solicitor or, with the leave of the Tribunal, through any other person.
(7) The Chairman of the Tribunal shall prepare or cause to be prepared a record of the proceedings at any sitting of the Tribunal, which shall contain such particulars relating to the proceedings as he considers appropriate.
5. Miscellaneous
Except as otherwise provided in this Ordinance—(a) the Tribunal, its Chairman and its members; and
(b) the parties to, and any witness, counsel, solicitor, or any other person involved in, a review,
shall have the same privileges and immunities in respect of the review as they would have if the review were civil proceedings before the Court of First Instance.