Credit Institutions (Fees) (Amendment) Regulations, 2008

L.N. 351 of 2008

BANKING ACT

(CAP. 371)

Credit Institutions (Fees) (Amendment) Regulations, 2008

IN exercise of the powers conferred by article 3 (2) (b) of the

Banking Act, the Minister of Finance, the Economy and Investment,

after consultation with the Malta Financial Services Authority, has made

the following regulations>

(1) The title of these regulations is the Credit Institutions Citation and

commencement.

(Fees) (Amendment) Regulations, 2008 and they shall be read and

construed as one with the Credit Institutions (Fees) Regulations, 2003, L.N. 218 of 2003.

hereinafter referred to as “the principal regulations”.

(2) These regulations shall come into force on the 1 st

January, 2009 and shall apply to fees falling due on or after the said

date. Nothing in these regulations shall be deemed to affect the liability

in respect of any fees due under the Credit Institutions (Fees)

Regulations, 2003 prior to the coming into force of these regulations.

In the definition “deposit liabilities” in sub-regulation (1) of Amends regulation

2 of the principal

regulation 2 of the principal regulations, for the words “liabilities as regulations.

reported in terms of Banking Directive BD#06” there shall be substituted

the words “liabilities as reported in terms of Banking Rule BR#06”.

In regulation 3 of the principal regulations, for the words “the Amends regulation

sum of €6,988.12”, there shall be substituted the words “the sum of 3 regulations.

€12,500”.

In regulation 4 of the principal regulations, for the words “shall Amends regulation

4 of the principal

pay a licensing fee of €11,646.87”, there shall be substituted the words regulations.

“shall pay a licensing fee of €18,000”.

Regulation 5 of the principal regulations, shall be amended as Amends regulation

5 of the principal

follows>

regulations.

(a) for the words “an annual supervision fee equivalent to

0.000142”, there shall be substituted the words “an annual

supervision fee equivalent to 0.000175”<

(b) in the first proviso thereof, for the words “shall in no

case be less than €15,723.27”, there shall be substituted the words

“shall in no case be less than €21,250 and more than €500,000”<

(c) in the second proviso thereto, for the words “licensed

after 1 st January, 2004”, there shall be substituted the words

“licensed after 1 st January of any calendar year”.

Regulation 7 of the principal regulations shall be deleted.

Deletes regulation 7

Regulation 8 of the principal regulations shall be renumbered

amends regulation 8

as regulation 7 thereof, and for the words “shall pay to the competent

authority a fee of €2,329.37” therein, there shall be substituted the words

“shall pay to the competent authority a fee of €3,600”.

Regulation 9 of the principal regulations shall be renumbered

amends regulation 9

as regulation 8 thereof, and for the words “in terms of regulations 3, 4,

5 and 8” therein, there shall be substituted the words “in terms of these

regulations”.

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

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