Section 22Part 1 — Securities Investment Business Act
Appeals against decisions made under section 17(2A)(a) and (h)
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An appeal lies to the court from a decision of the Authority made under section 17(2A)(a) and (h).
An appeal against the decision of the Authority shall be by way of motion.
The appellant shall, within twenty-one days after the day on which the Authority has given its decision, serve a notice of motion signed by the appellant or that person’s attorney-at-law on the Authority of that person’s intention to appeal and of the general ground of that person’s appeal.
A licensee or registered person aggrieved by a decision of the Authority may, upon notice to the Authority, apply to the court for leave to extend the time within which the notice of appeal prescribed by this section may be served and the court upon the hearing of such application may extend the time prescribed by this section as it considers fit.
The Authority shall, upon receiving the notice of appeal, transmit to the Clerk of the court without delay a copy of the decision and all papers relating to the appeal, but the Authority is not compelled to disclose any information if it is considered that the public interest would suffer by such disclosure.
At the hearing of the appeal the appellant shall, before going into the case, state all the grounds of appeal on which that person intends to rely and shall not, unless by leave of the court go into any matters not raised by such statements.
The court may adjourn the hearing of an appeal and may, upon the hearing thereof confirm, reverse, vary or modify the decision of the Authority or remit the matter with the opinion of the court thereon to the Authority.
An appeal against a decision of the Authority under this section shall not have the effect of suspending the execution of such decision. 23