Trusts and Trustees Act (Fees) Regulations, 2008

Suppliment tal-Gazzetta tal-Gvern ta’ Malta, Nru. 18,360, 30 ta’ Diçembru, 2008

L.N. 356 of 2008

TRUSTS AND TRUSTEES ACT

(CAP. 331)

Trusts and Trustees Act (Fees) Regulations, 2008

IN exercise of the powers conferred by paragraph (c) of sub-article

(1) of article 57 of the Trusts and Trustees 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 Trusts and Trustees Citation and

commencement.

Act (Fees) Regulations, 2008.

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

December, 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 prior to the coming into force of these

regulations.

(1)

In these regulations, unless the context otherwise Interpretation.

requires>-

“the Act” means the Trusts and Trustees Act<

“the Authority” means the Malta Financial Services Authority.

(2) Words and expressions which are also used in the Act

shall have the same meaning as in the Act.

(1) Any person applying to the Authority for an authorisation Application fee and

fee payable upon

to act as trustee or co-trustee in terms of article 43(3) of the Act or to the granting of

provide other fiduciary services in terms of article 43(12) of the Act authorisation.

shall, upon submission of the application, irrespective of whether the

authorisation is eventually granted or not, pay to the Authority the sum

of € 250 as an application and processing fee.

(2) Any person applying to the Authority for an

authorisation to act as trustee or co-trustee in terms of article 43(8) of

the Act shall, upon submission of the application, irrespective of whether

the authorisation is eventually granted or not, pay to the Authority the

sum of € 250 as an application and processing fee.

(3) Upon approval by the Authority of the application

submitted in terms of sub-regulation (1) or (2) of this regulation, the

applicant shall pay to the Authority a one-time fee of € 100.

(1) Any person that has been granted an authorisation to act

as trustee or co-trustee in terms of article 43(3) of the Act or to provide

other fiduciary services in terms of article 43(12) of the Act shall pay to

the Authority, on the date when such authorisation is granted and,

thereafter, annually upon the anniversary of the date of authorisation,

an authorisation fee of € 2,500.

(2) Any person that has been granted an authorisation to

act as trustee or co-trustee in terms of article 43(8) of the Act shall pay

to the Authority, on the date when such authorisation is granted and,

thereafter, annually upon the anniversary of the date of authorisation,

an authorisation fee of € 2,500.

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