ADVOKS GLOBAL · KENYA
Nairobi International Financial Centre Act
35. Establishment of Tribunal
Edition: 2022-12-31 · In force
35. Establishment of Tribunal
(1)There is established an appeals tribunal to be known as the Financial Centre Tribunal which shall consist of the following members appointed by the Judicial Service Commission—(a)a Chairperson with ten years' experience in adjudicating financial services and regulatory disputes; and(b)four other members with seven years' experience in the financial services sector.(2)The Chairperson and the members of the Tribunal appointed under subsection (1) shall—(a)be of good character; and(b)meets the requirements of Chapter Six of the Constitution of Kenya.(3)The Chairperson and members of the Tribunal shall be appointed for a term of three years renewable for one further term of three years.(4)The appointment of members to the Tribunal shall be done in such a manner as to ensure that the terms of the members appointed do not lapse at the same time and that there is continuity of service.(5)The Chairperson and any member of the Tribunal may be removed from office if the Chairperson or member—(a)becomes incapable through ill-health of effectively performing the duties of his or her office;(b)accepts any position of employment the holding of which conflicts with his or her role in the Tribunal;(d)is convicted of a criminal offence;(e)fails to attend three consecutive meetings of the Tribunal without the permission of the Tribunal;(6)The Chairperson and members of the Tribunal shall be paid such remuneration and allowances as the Judicial Service Commission may, in consultation with the Salaries and Remuneration Commission from time to time, determine.(7)The Tribunal shall have jurisdiction to hear and determine appeals against any decision or order of the Authority.(8)In determining an appeal, the Tribunal may affirm, quash or refer the decision or order back to the Authority for reconsideration.