WorldLII Home | Databases | WorldLII | Search | Feedback

Maltese Laws
You are here:  WorldLII >> Databases >> Maltese Laws >> Special Funds (Regulation) Act (Cap. 450) Special Funds (Registration Fees) Regulations, 2003 (L.N. 367 Of 2003 )

Database Search | Name Search | Noteup | Download | Help

Special Funds (Regulation) Act (Cap. 450) Special Funds (Registration Fees) Regulations, 2003 (L.N. 367 Of 2003 )



L.N. 367 of 2003

SPECIAL FUNDS (REGULATION) ACT (CAP. 450)Special Funds (Registration Fees) Regulations, 2003

IN exercise of the powers conferred by paragraph (b) of sub-article
1 of article 50 of the Special Funds (Regulation) Act, the Minister of Finance and Economic Affairs, acting on the advice of the Malta Financial Services Authority, has made the following regulations:

1. (1) The title of these regulations is the Special Funds

(Registration Fees) Regulations, 2003.
B 4881

Citation and commencement.

2004.
(2) These regulations shall come into force on the 1st January,

2. Any reference in these regulations to “the Act” is a reference Interpretation.

to the Special Funds (Regulation) Act, 2002 and the provisions of article
2 of the Act shall also apply to these regulations.

3. There shall be paid to the Authority by any person or body or scheme:

(a) upon submission of an application for the granting of a registration, irrespective of whether the application is eventually accepted or not, the application fee established in the second column of the Schedule to these regulations;
(b) on the date of the granting of a registration, the annual fee established in the third column of the said Schedule;
(c) thereafter annually, upon the anniversary of such date as is mentioned in paragraph (b) hereof, the same annual fee established in the third column of the said Schedule.

4. A person applying to the Authority for registration as a Retirement Scheme Administrator or a Retirement Fund Administrator or as a Retirement Fund Custodian and who qualifies for the abridged application process in terms of directives issued by the Authority under the Act, shall not be liable to payment of fees under these regulations.

Payment of application and registration fees.

Exemption from the payment of fees.

B 4882

(Regulation 3)SCHEDULE Table 1

Application Fees

Annual Fees

Retirement Schemes

Lm 500

Refer to Table 2

Retirement Funds

• Fund - Lm 650

• Up to 15 sub- funds – Lm 125 (per sub-fund)

• 16 sub-funds and over – Lm 75

(per sub-fund)

• Fund - Lm 700

• Up to 15 sub-funds – Lm 125 (per sub-

fund)

• 16 sub-funds and over - Lm 75 (per sub-fund)

Retirement Scheme

Administrator

Lm 200

Lm 600

Retirement

Fund Administrator

- not maintaining custody of assets

- maintaining custody of assets

Lm 400

Lm 750

Lm 1,200

Lm 1,500

Asset Managers

- Locally Based

- Overseas Based

Nil

Lm 100

Nil

Lm 300

Retirement Fund Custodians

Lm 750

Lm 1,500

Table 2
Occupational Retirement Schemes – Annual Fees

Number of members

Minimum payment per scheme

2 to 11

12 to 50

51 to 100

101 to 300

301 to 500

501 or more

Lm 50 per scheme Lm 3.50 per member Lm 3.00 per member Lm 2.50 per member Lm 2.00 per member Lm 1.00 per member

Not applicable

Lm 50

Lm 175

Lm 300

Lm 750

Lm 1000

Ippubblikat mid-Dipartiment ta’ l-Informazzjoni (doi.gov.mt) — Valletta — Published by the Department of Information (doi.gov.mt) — Valletta

Mitbug[ fl-Istamperija tal-Gvern — Printed at the Government Printing Press

Prezz 4ç – Price 4c

WorldLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback
URL: http://www.worldlii.org/mt/legis/laws/sfa450sffr2003367o2003731