Section 27Part 6 — MISCELLANEOUS
Appeals
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Where, in respect of a person who is a director of a covered entity upon the date of commencement of this Law, in this section referred to as an "existing director", the Authority —
refuses to register the existing director as a director pursuant to Part II; or
refuses to grant a licence to the existing director pursuant to either Part III or Part IV,
then the Authority shall give the existing director who is the subject of the refusal, in this section referred to as "the refusal", written notice of the refusal together with reasons for the refusal, in this section referred to as "the refusal notice".
The existing director who is the subject of the refusal may, within fourteen days of the receipt of the refusal notice, provide a written notice to the Authority requesting reconsideration of the refusal, in this section referred to as a "reconsideration request", which shall include a response to the reasons set out in the refusal notice.
Where a reconsideration request is received by the Authority pursuant to subsection (3), the Authority shall, within twenty-one days from receipt of the reconsideration request —
reconsider the refusal, taking into account the response set out in the reconsideration request; and
communicate the result of the reconsideration and by written notice to the existing director, provide reasons for the result.
Where a reconsideration request is received by the Authority pursuant to subsection (3), no refusal shall be deemed to have taken place in respect of the relevant existing director pursuant to this Law —
unless the reconsideration process has been concluded; and
until the decision of the Authority to refuse registration or to refuse to grant a licence has been confirmed by the Authority.
Where the Authority cancels or suspends registration, or revokes or suspends a licence, a registered director, professional director or corporate director may, within twenty-one days of the effective date of the revocation, appeal to the Grand Court against the decision of the Authority to revoke the licence but the appeal shall not suspend the execution of the decision.
Defined Terms
existing directorthe refusalthe refusal noticereconsideration request
Cross References
- Section 2 of Directors Registration And Licensing Actexternal
Part II - registration of directors
- Section 3 of Directors Registration And Licensing Actexternal
Part III - licensing
- Section 4 of Directors Registration And Licensing Actexternal
Part IV - licensing