Regulatory Alerts2025-05-19
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Capital Markets Tribunal – Ruling on application for leave to appeal – Stanchart Zambia – Stanchart Nominees and SEC
The Capital Markets Tribunal ruled that it lacks jurisdiction to hear applications for leave to appeal its decisions to the Court of Appeal. The Tribunal determined that Section 195(1) of the Securities Act No. 41 of 2016 prevails over the Court of Appeal Act, requiring such applications to be filed directly with the Court of Appeal. Consequently, the application for leave to appeal by the Securities and Exchange Commission against the Tribunal's previous ruling was dismissed.
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