Substitution of the Members of the Financial Services Tribunal,

L.N. 225 of 2021

ADMINISTRATIVE JUSTICE ACT

(CAP. 490)

Regulations on the Procedure of Abstention, Challenge and

Substitution of the Members of the Financial Services Tribunal,

IN EXERCISE of the powers conferred by article 4(b) of the

Administrative Justice Act, the Minister responsible for Justice,

Equality and Governance, in consultation with the Minister

responsible for Financial Services, has made the following

regulations:-

The title of these regulations is the Regulations on the Citation.

Procedure of Abstention, Challenge and Substitution of the Members

of the Financial Services Tribunal, 2021.

In these regulations, unless the context otherwise requires

Interpretation.

"Act" means the Malta Financial Services Authority Act;

"Minister" means the Minister responsible for the regulation of

financial services;

"Tribunal" means the Financial Services Tribunal.

Article 21 of the Act shall be amended as follows

Amends article

21 of the Act.

(a) immediately after sub-article (2) thereof there shall

be added the following new sub-article

"(2A) The Minister shall appoint a number of

substitute members, which number shall lie within the

discretion of the Minister but shall not be less than two (2),

according to necessity, from time to time, and which

substitute members shall satisfy the criteria according to

sub-articles(3) or (4), and sub-articles (5), (6) and (7) shall

apply. In case of a vacancy in the composition of the

Tribunal or for the reasons contemplated in article 10A, or

due to indisposition of any member of the Tribunal,

including the Chairman, the Minister shall appoint a

substitute member according to the rota, and who satisfies

the requisites of the vacancy according to sub-articles (3) or

(4), as the case may be."; and

(b) immediately after sub-article (10) thereof there shall

be added the following new sub-article

"(10A) The Chairman or other members of the

Tribunal may be challenged or may abstain from sitting

in a case in those circumstances that would disqualify a

judge in a civil lawsuit, and in such case the Chairman or

member shall be substituted by another member

appointed by the Minister in terms of sub-article (2A)

Provided that for the purposes of the

Insurance Business Act, such member is to be replaced

by another member who shall have the knowledge and

experience required in terms of article 57(1) of the

Insurance Business Act.".

€0.18