Regulations, 2016

Suppliment tal-Gazzetta tal-Gvern ta’ Malta, Nru. 19,589, 10 ta’ Ġunju, 2016

L.N. 217 of 2016

INVESTMENT SERVICES ACT

(CAP. 370)

Investment Services Act (Fees) (Amendment)

Regulations, 2016

IN exercise of the powers conferred by article 12 of the

Investment Services Act, the Minister for Finance, acting on the

advice of the Malta Financial Services Authority, has made the

following regulations:-

The title of these regulations is the Investment Services Citation.

Act (Fees) (Amendment) Regulations, 2016, and these regulations

shall be read and construed as one with the Investment Services Act S.L. 370.03

(Fees) Regulations, hereinafter referred to as "the principal

regulations".

In sub-regulation (1) of regulation 2 of the principal Amends

regulations, immediately after the definition "home Member State or regulation

the principal

EEA State" there shall be added the following new definition

regulations.

" "Notified AIF" means an AIF which has been notified to

the competent authority by an AIFM in terms of the Investment

Services Act (List of Notified AIFs) Regulations, 2016;".

Regulation 3 of the principal regulations shall be Substitutes

regulation 3 of

substituted by the following

the principal

regulations.

" Payment of

3. Any person or body or collective

application or

investment scheme shall, upon submission of an

notification fee.

application for the granting of a licence,

recognition, registration, authorisation or upon

submission of a notification, irrespective of

whether the application or notification is

eventually accepted or not, pay to the competent

authority the application fee or notification fee

as the case may be, established in the Second

Column of the Schedule.".

Regulation 4 of the principal regulations shall be amended Amends

regulation 4 of

as follows

the principal

regulations.

(a)

for the current marginal note to regulation 4 thereof

there shall be substituted the following

"Payment of annual supervisory fee and payment

of renewal of notification fee.";

(b) the current regulation shall be renumbered sub-

regulation (1) thereof; and

(c)

immediately after sub-regulation (1) thereof, as

renumbered, there shall be added the following new sub-

regulation

"(2) There shall be paid to the competent authority

by the AIFM upon the anniversary date of inclusion of an

AIF in the List of Notified AIFs in terms of the Investment

Services Act (List of Notified AIFs) Regulations, 2016, a

renewal of notification fee established in the Third Column

of the Schedule

Provided that the first annual renewal

notification fee shall be payable by the AIFM on behalf of

the Notified AIF immediately upon inclusion of the AIF in

the List of Notified AIFs.".

The Schedule to the principal regulations shall be amended

as follows

(a)

for the denomination of the third column of the

Schedule there shall be substituted the following

"Supervisory Fee/ Renewal of Notification Fee";

and

(b) immediately after paragraph (l) of the Schedule,

there shall be added the following new paragraph

" (m) Notification by the AIFM on

behalf of the Notified AIF

For each Notified AIF

€2,000

€2,000

€600 ".

Notified AIF sub-funds

€1,000

(per sub-fund)

€0.09