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CHAPTER 9
APPELLATE COMMITTEE
 SECTION260.
- There shall be an Appellate Committee comprising not fewer than five but
not exceeding seven experts appointed by the Cabinet, among whom there shall be at least
one highly qualified and experienced person from each field of law, accounting, and
finance.
- The provisions of Section 9, Section 10, Section 11, Section 12, Section 13
and Section 16 shall apply to the Appellate Committee
under the first paragraph mutatis mutandis.
- SECTION
261.
- An owner of securities, a company which issues securities, a company, a
securities company and a person who is directly affected by the orders issued under this
Act, who is not satisfied with the decision or order of the Office or the SEC which has
been made or issued in accordance with Section 32, Section 33, Section 34, Section 41(3), Section 104,
Section 141, Section 142,
the first prargraph of Section 143, Section 144, Section 145, Section 212 and Section
259, may appeal to the Appellate Committee within fifteen days from the date of
knowing such decision or order, as the case may be, in accordance with the rules and
procedures as specified in the notification of the SEC.
- The appeal under the first paragraph shall not be a ground for the stay
of the execution of such decision or order of the Office or the SEC, as the case may be
unless otherwise unanimously resolved by the Appellate Committee.
- The decision of the Appellate Committee shall be final.
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