S.L. 371.23 Art. 7Administrative penalties, other administrative measures and appeals.

(1) Without prejudice to any other power assigned to the Authority under the Act, these regulations or any other law, where a person falling within the scope of these regulations, fails to comply with any of the provisions of these regulations or any Rules issued thereunder which further implement these regulations, the Authority may, by notice in writing impose on such person an administrative penalty and other administrative measures in accordance with articles 35A and 35B of the Act, as applicable.

(2) A right of appeal to the Financial Services Tribunal shall lie from the decisions which the Authority shall take under these regulations and the provisions of article 10 of the Act shall apply mutatis mutandis.