57. Powers to hear and determine matters
Past version: effective up to 13/09/2008
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(1) For the purposes of any proceeding before it, the Financial Markets Tribunal shall be constituted as provided in Article 31 of the Regulatory Law 2004.
(2) The Financial Markets Tribunal may, for the purposes of any proceedings commenced under this Law, on its own motion or that of any party to the proceedings:
(a) receive and consider any material by way of oral evidence, written statements or documents, even if such material may not be admissible in evidence in civil or criminal proceedings in a court of law;
(b) by notice in writing require a person to attend before it at any sitting and to give evidence and produce any item, record or document in his possession or control relating to the subject matter of the proceedings;
(c) administer oaths or affirmations;
(d) examine or cause to be examined on oath or otherwise a person attending before it and require the person to answer truthfully any question which the Financial Markets Tribunal considers appropriate for the purposes of the proceedings;
(e) order a witness to provide evidence in a truthful manner for the purposes of the proceedings by sworn statement;
(f) order a person not to publish or otherwise disclose any material disclosed by any person to the Financial Markets Tribunal;
(g) stay the proceedings on such grounds and on such terms and conditions as it considers appropriate having regard to the interests of justice; and
(h) exercise such other powers or make such other orders as the Financial Markets Tribunal considers necessary for or ancillary to the conduct of the proceedings or the performance of its function.
(3) At the conclusion of any proceedings, under this Law, the Financial Markets Tribunal may make a finding or declaration of unacceptable circumstances or a contravention of the Law or Rules, and may make one or more of the following orders, in addition to any orders it may make under Article 54 of this Law:
(a) an order requiring the respondent to comply with the Law;
(b) an order requiring the respondent to comply with the Offered Securities Rules or the Takeover Rules;
(c) an order in relation to the control or acquisition of Investments in or relating to a Reporting Entity;
(d) an order in relation to the rights of shareholders or minority shareholders in a Reporting Entity;
(e) an order in resolution of any commercial proceeding arising under this Law;
(f) an order requiring the respondent to do any act or thing; or
(g) any consequential orders as the Financial Markets Tribunal sees fit following a finding or the making of a declaration.