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Financial Institutions (Bank Licence Fees) Regulations (Statutory Instrument 21 of 2010)

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This is the latest version of this legislation commenced on 01 Dec 2014.

Seychelles

Financial Institutions Act

Financial Institutions (Bank Licence Fees) Regulations

Statutory Instrument 21 of 2010

  • Commenced on 1 March 2010

  • [This is the version of this document at 1 December 2014.]


[S.I. 21 of 2010; S.I. 37 of 2012; S.I. 18 of 2014]


1.

These Regulations may be cited as the Financial Institutions (Bank Licence Fees) Regulations.

2.

These Regulations shall be deemed to have come into operation on 1st January, 2010.

3.

An applicant shall, upon submission of an application for a banking licence, pay the application processing fee as specified in Schedule I to these Regulations.

4.

An applicant shall, upon the grant of a banking licence, before commencement of business and thenceforth annually, pay the annual fee specified in Schedule II to these Regulations.


Schedule I (Regulation 3)

Processing fees

[Schedule I amended by SI 18 of 2014 with effect from 10 March 2014]

Banking licence R75,000

Schedule II (Regulation 4)

Annual fees


Total assets Annual fees
Less than R300,000,000 R250,000
R300,000,000 or more, but less than R1,000,000,000 R500,000
R1,000,000,000 or more, but less than R5,000,000,000 R750,000
R5,000,000,000 or more R1,000,000