After reading the Judge’s sentence of N Trust’s constitutional case against the FIAU, I admit that it makes for interesting reading and the sentence makes some interesting points, but I can’t verify its legal validity as of yet. I still need to speak to more lawyers and experts to understand the sentence and its implications.
The sentence which can be read here, makes some very interesting points such as that the FIAU is not actually an independent institution because its board of governors is appointed by the Minister for Finace and that the financing of the entity is also made through an agreement with the Minister. The sentence also states that the FIAU cannot act as a discretionary authority that imposes fines, given that these fines should be mediated by a court case.
I have sent questions on the sentence to the FIAU’s director Alfred ?ammit and I am hoping he will answer. I am also speaking to lawyers to further understand the legal validity of these conclusions.
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