Section 331 Investments and Securities Act

Section 331 of the Investments and Securities Act 2025 is about Actions against and appeals from decisions of the Commission. It is under Part XVII (Establishment, Jurisdiction, Authority and Procedure of The Investments and Securities Tribunal) of the Act. It provides as follows:

(1) A person aggrieved by any action or decision of the Commission under this Act, may institute an action in the Tribunal or appeal against such decision within the period stipulated under this Act.

(2) An action or appeal shall not be commenced at the Tribunal or in any other court in respect of anything covered under this Act unless the aggrieved party has given to the Commission at least 14 days’ written notice of its intention to commence the action, and the notice shall state the cause of action, the name and address of the aggrieved party and the relief which he claims.

(3) An appeal under this Part shall be filed within a period of 30 days from the date on which a copy of the order which is being appealed against is made, or deemed to have been made by the Commission and it shall be in such form and accompanied by such fees as may be prescribed:

Provided that the Tribunal may entertain an appeal after the expiry of the period of 30 days if it is satisfied that there was sufficient cause for the delay.

(4) On receipt of an appeal under subsection (3), the Tribunal may, after giving the parties an opportunity of being heard, make such orders as it deems fit, confirming, modifying or setting aside the order appealed against.

(5) The Tribunal, shall in the exercise of its powers under this Act, conduct its proceedings in such manner as to avoid undue delays and shall dispose of any matter before it finally within three months from the date of the commencement of the hearing of the substantive action:

Provided that no judgment shall be rendered void by virtue of a delay in delivering same except where it is established that the delay occasioned a miscarriage of justice.