Section 481

Appeal before the Appellate Bench.—Any person aggrieved by an order passed by the registrar or an officer authorized by the Commission under section 480, may prefer an appeal to the Appellate Bench of the Commission under section 33 of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII OF 1997):

Provided that no appeal shall lie against—

(a) an administrative direction given by a Commissioner or an officer of the Commission;

(b) a sanction provided or decision made by a Commissioner or an officer of the Commission to commence legal proceedings; and

(c) an interim order which does not dispose of the entire matter.