Service Providers for Business) (Fees) Regulations, 2022

Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 20,923, 14 ta’ Settembru, 2022

L.N. 230 of 2022

MALTA FINANCIAL SERVICES AUTHORITY ACT

(CAP. 330)

Malta Financial Services Authority Act (European Crowdfunding

Service Providers for Business) (Fees) Regulations, 2022

IN EXERCISE of the powers conferred by sub-article (2A) of

article 20A of the Malta Financial Services Authority Act, the Minister

responsible for the regulation of financial services, acting on the

advice of the Malta Financial Services Authority, has made the

following regulations

The title of these regulations is the Malta Financial Citation.

Services Authority Act (European Crowdfunding Service Providers

for Business) (Fees) Regulations, 2022.

(Regulations 3, 4 and 5)

Fees

First Column

Second Column

€

Application fee

4,500

Extension fee

2,000

Annual supervisory

For revenue up to

3,500

fee

€250,000

Further tranches

400 per tranche

of €250,000 up to

or part thereof

a maximum of

€5,000,000

€0.18

(1)

In these regulations, unless the context otherwise Interpretation.

requires

"Act" means the Malta Financial Services Authority Act;

"applicant" means a legal person who applies to the

competent authority for an authorisation as a crowdfunding

service provider in terms of the European Crowdfunding Service

Providers for Business Regulation;

"competent authority" means the Malta Financial Services

Authority established by the Act;

"crowdfunding service provider" means a crowdfunding

service provider authorised by the competent authority in terms

of the European Crowdfunding Service Providers for Business

Regulation;

"European Crowdfunding Service Providers for Business

Regulation" means Regulation (EU) 2020/1503 of the European

Parliament and of the Council of 7 October 2020 on European

crowdfunding service providers for business, and amending

Regulation (EU) 2017/1129 and Directive (EU) 2019/1937, as

may be amended from time to time, and includes any binding

legal instruments, guidelines and other measures that have been

or may be issued thereunder.

(2)

Words and expressions used in these regulations which are

also used in the European Crowdfunding Service Providers for

Business Regulation, but which are not defined herein, shall have the

same meaning as that assigned to them in the European Crowdfunding

Service Providers for Business Regulation.

An applicant shall, upon submission of an application for

the granting of an authorisation as a crowdfunding service provider,

pay to the competent authority the application fee established in the

Second Column of the Schedule

Provided that the said application fee, with respect to those

applications submitted prior to the coming into force of these

regulations, shall be paid within one (1) month from the date of the

coming into force of these regulations.

A crowdfunding service provider seeking authorisation to

extend its business to additional crowdfunding services not foreseen at

the time of the authorisation granted under Article 12 of the European

Crowdfunding Service Providers for Business Regulation shall, upon

submission of a request for extension of its authorisation to the

competent authority in terms of Article 13(2) of the European

Crowdfunding Service Providers for Business Regulation, pay to the

competent authority the extension fee established in the Second

Column of the Schedule.

A crowdfunding service provider shall, upon the

submission of the annual report to the competent authority in terms of

Article 16(1) of the European Crowdfunding Service Providers for

Business Regulation, pay to the competent authority the annual

supervisory fee established in the Second Column of the Schedule

Provided that the first annual supervisory fee shall be due

immediately once the authorisation is granted and shall be

proportionate to the period remaining between the date of the granting

of the authorisation and the established date for the submission of the

annual report.

The fees established and due in terms of these regulations

shall not be refundable and said fees shall not be prorated, other than

the first annual supervisory fee as established in regulation 5.