Financial Leasing Act, 2013
Financial Leasing (Licensing) Regulations, 2014
Statutory Instrument 114 of 2014
- Commenced on 29 December 2014
- [This is the version of this document at 31 December 2015.]
1. CitationThese regulations may he cited as the Financial Leasing (Licensing) Regulations, 2014.
2. InterpretationIn these Regulations—“Act” means the Financial Leasing Act, 2013;"applicant" means a person having the eligibility specified under section 31(2) of the Act and who intends to engage in financial leasing business.
3. ApplicationUnless otherwise provided, these regulations shall apply to—
4. Application for licence
5. Incomplete application
6. Banks to engage in financial leaseA bank applying for approval to engage in financial leasing as part of its existing banking business licence in accordance with section 36 of the Act shall pay a non-refundable application fee of SCR50,000 along with the application.
7. Payment of relevant application fee requiredAn application not accompanied by the proof of payment of the relevant application fee may be summarily rejected.
8. Annual licence fee
9. Banks annual licence feeWithout prejudice to regulation 8, a bank which has been granted approval to engage in financial leasing as part of its existing banking business licence in accordance with section 36 of the Act shall adhere to the Financial Institutions (Bank Licence Fees) Regulations, 2010, in respect of its annual banking licence fee.
History of this document
29 December 2014