One or more Disciplinary Boards shall be established within the Authority, composed of three members headed by a judge delegated by the Supreme Judiciary Council and two members who are experienced in financial, economic, and legal affairs. The term of membership of the Disciplinary Board shall be three years and may be renewed. The Disciplinary Board shall address the following matters: 1. Deciding on the disciplinary matters referred and submitted by the Authority concerning the violation of the provisions of the Law or these Bylaws or any other decisions or instructions issued in connection therewith 2. Deciding on the appeals filed against Exchange decisions and the decisions taken by the Violations Committee thereat. The Disciplinary Board, when hearing these appeals, shall be deemed to act as an appellate body and its rulings with regard thereto shall be final. 3. Considering the disciplinary procedures taken by an Exchange towards any of its members referred to the Disciplinary Board from the Authority.