The decisions passed by the disciplinary board referred to in sub-articles 4–7 of the preceding Article, may be appealed to the Disciplinary Board of Appeal, which shall be presided over by a judge to be selected by the Minister of Justice and Islamic Affairs.

The Chairman of the Exchange Board shall pass a resolution for the constitution of the Disciplinary Board of Appeal.

The Resolution issued for the formation of the Board shall put forth the procedures to be followed therein.