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(1) The Exchange may consult an advisory panel regarding sponsor and registered professional applications and other admission matters.
(2) The panel will comprise industry practitioners as appointed by the Exchange.
(3) The panel will review applications referred to it, and provide its opinion on the following matters as requested:
(a) the suitability of an applicant to be a sponsor or registered professional;
(b) the effect that the granting or refusing of an application may have on the reputation of the Exchange or the integrity of its markets; and
(c) any other matter the Exchange or the panel considers relevant.
(4) The panel has the following powers:
(a) to review the application documents; and
(b) where appropriate, to interview the applicant, directors, officers, registered professionals and employees of the applicant.
(5) The Exchange is not obliged to disclose the opinion of the panel to the relevant applicant.
(6) The Exchange is not bound by the opinion of the panel and the panel will not hear appeals from a decision of the Exchange.