1964_SECURITIES_AND_FUTURES_COMMISSION_ORDINANCE — Page 32

32

CAP. 24]

Securities and Futures Commission

[1989 Ed.

(5) For the purpose of the hearing of an appeal under this Part-

(a) the appellant and the Commission shall be entitled to be heard either in person or through counsel or solicitor and if the appellant is a company, through any of its directors or employees or if a partnership through any of the partners or, with the leave of the tribunal hearing the appeal, through any other person;

(b) the tribunal hearing the appeal may-

(i) receive such evidence as it considers relevant, whether it would be admissible in a court or not;

(ii) require evidence to be given on oath or affirmation and orally or in writing;

(iii) require any record or other document specified by it and relating to the subject-matter of the appeal to be produced by the appellant or the Commission;

(c) the tribunal hearing the appeal may by notice in writing signed by the member presiding and served on the person to whom it is addressed, require that person to attend and give evidence before it at the hearing of the appeal, and to produce such record or other document in that person's custody or under his control relating to the subject-matter of the appeal as may be specified in the notice;

(d) the member presiding at the hearing of the appeal may administer an oath or affirmation to any person.

(6) Without affecting the generality of section 56(2), a tribunal and its members, and witnesses, counsel and any solicitor, and any other person who is a party to or who otherwise has an interest in the proceedings shall have the same privileges and immunities in respect of the hearing of an appeal under this Part as they would have in proceedings before the High Court.

(7) A tribunal hearing an appeal under this Part may confirm, vary or reverse the decision under appeal and every decision of a tribunal shall contain a statement of the reasons for the decision.

(8) Subject to section 22, the determination of an appeal by a tribunal hearing an appeal under this Part or any order as to costs made by a tribunal shall be final and shall not be appealable.

(9) (a) A tribunal hearing an appeal under this Part may award costs to any party to the appeal, and costs so awarded shall be recoverable as a civil debt.

(b) A tribunal may order any party to an appeal to pay, in accordance with rules made under this section by the Governor in Council, the costs and expenses incurred by the tribunal in hearing and determining the appeal and the amount of such costs and expenses shall be determined by the tribunal in accordance with such rules, and any sum so ordered to be paid shall be recoverable as a civil debt.