Section 16: Penalties for unprofessional conduct.

(1) Where -
(a) a member is adjudged by the Tribunal to be guilty of infamous conduct in any professional respect;
(b) a member is convicted by any court of law in Nigeria or elsewhere, having powers to award imprisonment for an offence (whether or not punishable with imprisonment) which, in the opinion of the Tribunal, is incompatible with the status of a professional treasury consultant, or
(c) the Tribunal is satisfied that the name of any person has been fraudulently registered,
the Tribunal may, if it deems fit, give a direction reprimanding that person or ordering the Registrar to strike his name off the register
(2) The Tribunal may, if it deems fit, defer its decision as to the action taken under subsection (1) until a subsequent meeting of the Tribunal, but no
(a) decision shall be deferred under this provision for a period exceeding one year; and
(b) person shall be a member of the Tribunal for the purpose of reaching a verdict on a deferred or further deferred decision unless he was present as a member of the Tribunal when the decision was deferred.
(3) For the purpose of subsection (1) (b), a person shall not be treated as a convict unless the conviction stands at a point where no appeal or further appeal is pending or may, without extension of time, be brought in connection with the conviction.
(4) Where the Tribunal gives a directive for the purpose of effecting penalties for unprofessional conduct, the Tribunal shall cause notice of the directive to be served on the person to whom it relates.
(5) The person to whom a directive relates may, at any time within 28 days from the date of service on him of notice of the directive, appeal against the directive to the Federal High Court and the Tribunal may appear as respondent to the appeal and, for the purpose of enabling directive to be given as to the costs of the appeal and proceeding before the Federal High Court, the Tribunal shall be deemed to be a party to the appeal whether or not it appears on the hearing of the appeal.
(6) A directive of the Tribunal under subsection (1) shall take effect where -
(a) no appeal under this section is brought against the directive within the time limited for such an appeal, or at the expiration of the time;
(b) such an appeal is brought and is withdrawn or struck out for want of prosecution, or dismissed for lack of merit; or
(c) an appeal is brought and is not withdrawn or struck out, if and when the appeal is dismissed, shall not take effect under the provision of this section.
(7) A person whose name is removed from the register following a directive of the Tribunal under this section is not entitled to be registered again except in pursuant to a direction in that behalf given by the Tribunal on the application of that person and a directive under this section for the removal of a person's name from the register may prohibit an application under this subsection by that person until the expiration of that period from the date of the direction, and where he has duly made an application, from the date of his last application, as may be specified in the direction.