FINANCIAL INSTITUTIONS (FEES) ġ S.L.376.03 1
SUBSIDIARY LEGISLATION 376.03
FINANCIAL INSTITUTIONS (FEES) 
REGULATIONS
1st January, 2004
LEGAL NOTICE 217 of 2003.
Citation.
(Fees) Regulations.
Interpretation.
Cap. 376.
and the words and expressions which are also used in the Act shall
have the same meaning as in the Act.
Application and 
processing fee.
3. A financial institution applying to the competent authority
for a licence under the Act shall, upon submission of the
application, irrespective of whether the licence is eventually
granted or not, pay to the competent authority the sum of Lm300 as
an application and processing fee.
Licensing fee.
terms of the Act shall pay a licensing fee of Lm 500 to the
competent authority upon the granting of such licence.
Supervision fee.
the competent authority an annual supervision fee equivalent to
0.000142 of the total of the items in the balance sheet as reported to
the competent authority in terms of Banking Directive BD/06 at the
end of the year preceding the year immediately before the year in
which the fee is payable:
Provided that the annual amount payable by a financial
institution by way of supervision fee shall in no case be less than
Lm750:
Provided further that the first supervision fee payable by a
financial 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.
Payment of 
supervision fee.
6. The annual supervision fee due in terms of regulation 5
shall be payable to the competent authority on the 1st January of
every year.
Transitory 
provision.
7. In calculating the supervision fee due in the first year, the
competent authority shall credit the financial institution with a
proportion of the annual licence fee already paid by the financial
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
2 ġ S.L.376.03 FINANCIAL INSTITUTIONS (FEES)
January to 31st August, 2004.
Non-refundable 
fees.
8. None of the fees established in terms of regulations 3, 4
and 5 shall, once paid, be refundable under any circumstances.
