247Right of appeal against decision on claim

247 Right of appeal against decision on claim

247 Right of appeal against decision on claim

(1) A claimant against the fidelity fund may appeal to the designated tribunal against a decision of the fidelity authority—

(a) to wholly or partly disallow a claim; or

(b) to reduce the amount allowed in respect of a claim—

but an appeal does not lie against a decision of the fidelity authority to limit the amount payable, or to decline to pay an amount, under section 230 or 231.

(2) An appeal against a decision must be lodged within 30 days of receiving written notice about the decision.

(3) On an appeal under this section—

(a) the appellant must establish that the whole or part of the amount sought to be recovered from the fidelity fund is not reasonably available from other sources, unless the fidelity authority waives that requirement; and

(b) the designated tribunal may, on application by the fidelity authority, stay the appeal pending further action being taken to seek recovery of the whole or part of that amount from other sources.

(4) The designated tribunal may review the merits of the fidelity authority’s decision to the extent considered relevant by the tribunal.

(5) The designated tribunal may—

(a) affirm the decision; or

(b) if satisfied that the reasons for varying or setting aside the fidelity authority’s decision are sufficiently cogent to warrant doing so—

(i) vary the decision; or

(ii) set aside the decision and make a decision in substitution for the decision set aside; or

(iii) set aside the decision and remit the matter for reconsideration by the fidelity authority in accordance with any directions or recommendations of the tribunal.

(6) The designated tribunal may make other orders as it thinks fit.

(7) No order for costs is to be made on an appeal under this section unless the designated tribunal is satisfied that an order for costs should be made in the interests of justice.