Appointment of Domestic Banks and Financial Institutions Appeal Board

(1) The Minister shall cause to be appointed a Domestic Banks and Financial Institutions Appeal Board, referred to in this Act or any other enactment as the “Appeal Board”, to hear and determine all appeals in respect of matters which may be referred under this Act to the Appeal Board. (2) The Appeal Board shall consist of three persons– (a) the Chief Justice or other Judge of the Supreme Court nominated by the Chief Justice, who shall be the Chairman of the (b) two other members nominated by the Public Services Commission from among persons who have knowledge of banking, finance, economics or other related disciplines. 197 (3) No person who is a serving staff member or director of the Central Bank or of any other bank or financial institution in Belize shall be appointed as a member of the Appeal Board. (4) The terms of office of the members appointed under paragraph (b) of sub-section (2) shall be three years in the first instance but they shall be eligible for reappointment.