Corporate Service Provider Business Appeal Tribunal Regulations 2013

Summary

These Regulations establish the procedural rules for the Appeal Tribunal that hears appeals against decisions of the Bermuda Monetary Authority (the Authority) made under the Corporate Service Provider Business Act 2012. They set out how, when and by whom an appeal is brought, how the Tribunal is empanelled, and the procedure through grounds of appeal, the Authority's response, preliminary hearings, evidence, hearings, determinations and costs.

• Who can appeal: Undertakings (licensed corporate service providers) aggrieved by licence restrictions, revocations, refusals, civil penalties or public censure; controllers, officers and other controllers served with removal conditions or notices of objection; and individuals subject to prohibition orders or refused variation/revocation of such orders.
• Time limits to appeal: 10 days from the decision notice for licence restriction, variation or revocation, or refusal of an application; 28 days for civil penalty, public censure, controller/officer removal, notices of objection, and prohibition order appeals.
• Grounds and documents: Appellant must file grounds of appeal within 14 days of filing the notice of appeal, together with the supporting documents specified in the Schedule (e.g. warning notices, decision notices, representations), and serve copies on the Authority and any person or undertaking concerned.
• Authority's response: The Authority, as respondent in every appeal, must file its response with the secretary within 28 days of being served the notice of grounds of appeal.
• Hearing process: Preliminary hearings are timed relative to receipt of the Authority's response (not earlier than 21 days, not later than 35 days, with at least 10 days' notice); hearings and preliminary hearings are held in private, with parties entitled to representation, evidence and cross-examination; the Tribunal notifies parties of its determination and may publish it with safeguards for confidential information.

The Regulations also cover interim relief applications, amendment and withdrawal of appeals or the Authority's opposition, powers to compel attendance and evidence, taxation of costs, service of notices, irregularities, and consolidation of appeals.

Key obligations

• An appellant must file a notice of appeal with the secretary to the Tribunal within 10 days (for licence restriction, variation, revocation or refusal decisions) or 28 days (for civil penalty, public censure, controller/officer removal, objection notice, or prohibition order decisions) of receiving the relevant decision notice.
• When filing a notice of appeal, the appellant must serve a copy on the Authority and on any person or undertaking concerned.
• The appellant must file grounds of appeal with the secretary within 14 days of filing the notice of appeal, including the documents listed in the Schedule, and serve copies on the Authority and any person or undertaking concerned.
• The Authority must file its response to the notice of grounds of appeal with the secretary within 28 days of being served that notice, and serve a copy on the appellant and any person or undertaking concerned.
• Any supplementary grounds of appeal containing confidential or commercially sensitive information omitted from the main grounds must be filed with the secretary at the same time as the notice of grounds of appeal.
• Parties seeking to amend grounds of appeal or the response must file notice with the secretary before the hearing, or obtain leave of the chairman/Tribunal during or after a preliminary hearing.
• Witnesses required to attend and give evidence must be given at least 5 days' notice before the hearing unless the chairman directs otherwise.
• Costs or expenses directed to be paid must be taxed by the Registrar of the Supreme Court.

Applies to

licensed corporate service provider undertakings, controllers, officers, shareholder controllers, majority shareholder controllers, individuals subject to prohibition orders, the Bermuda Monetary Authority (as respondent)

Deadlines

• 10 days from decision notice: Deadline to file notice of appeal against licence restriction, variation, revocation, or refusal of a licence application (section 36(1)(a)-(c)).
• 28 days from decision notice: Deadline to file notice of appeal against civil penalty, public censure, controller/officer removal condition, notice of objection, prohibition order, or refusal to vary/revoke a prohibition order (section 36(1)(d)-(e), 36(2)-(5)).
• 14 days from filing notice of appeal: Deadline for appellant to file grounds of appeal with the secretary.
• 28 days of being served notice of grounds of appeal: Deadline for the Authority to file its response with the secretary.
• not earlier than 21 days and not later than 35 days after receipt of the Authority's response: Window within which the chairman must serve notice appointing the preliminary hearing.
• not less than 10 days before the preliminary hearing: Minimum notice period for the date, time and place of the preliminary hearing.
• not less than 5 days before the hearing: Minimum notice period for a witness required to attend and give evidence, unless the chairman directs otherwise.