Regulatory Alerts2003-06-10
Added · Updated
Royal Decree of 15 May 2003 regulating the expedited procedure for appeals to the Council of State against certain decisions of the Commission for Banking and Finance
This Royal Decree establishes the procedural rules for expedited appeals to the Council of State against specific decisions of the Commission for Banking and Finance (CBF), effective 1 June 2003. It mandates that appeals be filed within fifteen days of notification via registered letter, accompanied by four certified copies and a list of supporting documents. The CBF must submit a response and the case file within one month of receiving the appeal copy, while an auditor prepares a report within three months. The Council of State chamber must rule within six months of the initial appeal, with judgments issued within three months of the debate closure, subject to a maximum one-month extension. Additionally, appellants must first request the CBF's management committee to withdraw or modify the decision via registered letter, waiting fifteen days before filing the appeal unless the CBF indicates it will proceed with execution.
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