Cap. 555 Art. 24Mediation.

(1) A complaint about the conduct of a financial services provider shall, as far as possible, be primarily dealt with by mediation.

(2) Participation in the mediation by the parties to a complaint shall be voluntary, and a party may withdraw from participation at any time.

(3) The mediation process shall be carried out by the officers appointed by the Board under article 8(1), whose function shall be to act as a mediator between the complainant and the financial services provider. A list of such officers shall be held by the Board:

Provided that the mediator may abandon an attempt to resolve a complaint by mediation on forming the view that the attempt is not likely to succeed.

(4) Subject to the foregoing provisions and to any regulations made under sub-article (7), the mediator may regulate his own proceedings.

(5) The mediation process shall proceed in private and any resolution of a dispute as a result of mediation shall not have the resolution thereof published under any format.

(6) No appeal shall lie in terms of article 27 from anything done by an officer acting in his capacity as mediator.

(7) The Minister may, after consultation with the Arbiter and the Board, make regulations to give better effect to the provisions of this article and, without prejudice to the generality of the foregoing, he may:

(a) establish the procedure to be followed by the officer in his capacity as mediator;

(b) prescribe the types of applications which a complainant may refer to the officer; and

(c) prescribe the procedure to be followed in the formulation of a report by the officer.