Article 8 - The Appeals Body

(1) The Appeals Body was established by the QFC Law for the purposes of hearing appeals against the decisions of the Regulatory Authority.
(2) The Appeals Body has, under the QFC Law, financial and administrative autonomy from the State, the QFCA, the Regulatory Authority and other QFC Institutions. The Appeals Body has an independent budget for which the State has primary responsibility. According to the QFC Law, the Appeals Members are independent in the performance of their duties and neither the State, the Council of Ministers, the Chairman of the QFCA, the Regulatory Authority nor any other person may intervene in the course of the decisions of the Appeals Body.
(3) The Appeals Body is the only body with jurisdiction to hear appeals against decisions made by the Regulatory Authority and its decision is final and binding on the parties and is not subject to further appeal.
(4) The Appeals Body must comply with the requirements as to its management and constitution set out in Schedule 4.
(5) Without prejudice to any other powers and rights that it may have hereunder or under any other applicable laws or Regulations, the Appeals Body shall have the powers and rights and be subject to the duties and obligations set out in Schedule 4.