Cap. 345 Art. 42Appeals to the Tribunal.

(1) Any person who is aggrieved by a decision of the competent authority:

(a) to refuse a prospectus or admissibility to listing;

(b) to refuse to grant an approval for a covered bond programme;

(c) to refuse an application for authorisation to provide the services of a regulated market in or from within Malta;

(d) to suspend or remove listed financial instruments from listing and, or from trading on a trading venue;

(e) to refuse an application for authorisation to act as a central securities depository;

(f) to revoke an authorisation to act as a central securities depository when this is revoked by the competent authority in terms of article 27 of this Act;

(g) concerning the expenses of and incidental to an investigation under article 33;

(h) to issue a directive;

(i) to impose an administrative penalty or any other administrative measures;

(j) to withdraw an approval for a a covered bond programme;

(k) to refuse an application for registration of a sponsor; or

(l) to cancel or suspend the registration of a sponsor, may appeal against such decision to the Tribunal within such period and under such conditions as are established under article 21 of the Malta Financial Services Authority Act.

(2) Without prejudice to sub-article (1), any person who is aggrieved by the competent authority’s failure to take a decision in respect of:

(a) an application for the approval of a prospectus or a request for changes or supplementary information within the time limits set out in Article 20(2), (3) and

(6) of the Prospectus Regulation in respect of that application;

(b) an application for authorisation to act as a central securities depository which contains all the information required under the provisions in force within six (6) months of its submission; or

(c) any application for the approval of a covered bond programme, may appeal against such failure to decide to the Tribunal within such period and under such conditions as are established under article 21 of the Malta Financial Services Authority Act.

(3) Any person who is aggrieved by a decision of a market operator operating an authorized regulated market, an MTF or an OTF to suspend or remove financial instruments or listed financial instruments, as applicable, from trading on the authorized regulated market, MTF or OTF operated thereby may appeal against such decision to the Tribunal within such period and under such conditions as are established under article 21 of the Malta Financial Services Authority Act.

(4) The provisions of sub-articles (1) to (3) shall be without prejudice to the right of any person who is aggrieved by a decision or failure to decide of the competent authority or market operator of an authorized regulated market to appeal there from in accordance with any regulations issued under this Act.