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Banking Act (Cap. 371) Credit Institutions (Fees) Regulations, 2003 (L.N. No. 218 Of 2003 )

B 2505

In exercise of the powers conferred by subarticle (2) of article 3 of the Banking Act, the Minister of Finance and Economic Affairs has made the following regulations:-

(Fees) Regulations, 2003.
(2) These regulations shall come into force on the 1st
January, 2004.

“the Act” means the Banking Act;
“deposit liabilities” shall mean deposit liabilities as reported in terms of Banking Directive BD/06 issued by the competent authority in accordance with the provisions of the Act;
(2) Words and expressions which are also used in the Act shall have the same meaning as in the Act.

Citation and commencement date.

Interpretation.

Application and processing fee.

Licensing fee.

Supervision fee.

B 2506

Payment of supervision fee.

Transitional provision.

Representative office.

Non-refundable fees.

Repeals L.N. 42 of

1995.

Provided that the annual amount payable by a credit institution by way of supervision fee shall in no case be less than Lm6,750:
Provided further that the first supervision fee payable by a credit institution licensed after 1st January, 2004 shall be equal to a proportion of such fee that would have been otherwise payable in respect of the whole calendar year in which the licence was granted. The fee payable shall be proportionate to the period remaining between the date of the granting of the licence and the end of that calendar year.
6. The annual supervision fee due in terms of regulation 5 shall be payable to the competent authority in two instalments of equal amount on the 1st January and 1st July of each year.
7. In calculating the supervision fee due in the first year, the competent authority shall credit the credit institution with a proportion of the annual licence fee already paid by the credit institution in 2003 under the regulations as in force during that year. The proportion of the fee to be credited shall be the proportion of the fee so paid in relation to the period from 1st January to 31st August, 2004.

8 shall, once paid, be refundable under any circumstances.

Ippubblikat mid-Dipartiment ta’ l-Informazzjoni (doi.gov.mt) — Valletta — Published by the Department of Information (doi.gov.mt) — Valletta

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

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