S.L. 487.3 Art. 4Payment of annual supervisory fee for registration, enrolment and permit.

Any person who, on the 31st December of each year, holds a permit of a kind specified in Part II of the Schedule, or whose name, on that date, appears in the Agents Register, Managers Register or Brokers Register or the Managers List, the Tied Insurance

Intermediaries List or the Ancillary Insurance Intermediaries List, shall, during the month of January of the following year, pay to the competent authority the fee relating to the annual supervisory fee for the kind of permit held by the person, or the registration or enrolment of the person, specified in Part II of the Schedule: Provided that, the first annual supervisory fee shall be due immediately once a permit, registration or enrolment, as the case may be, is granted. The first annual supervisory fee payable shall be equal to a proportion of the fee established in the Second Column of Part II of the Schedule. The fee payable shall be proportionate to the period remaining between the date of the granting of the permit, registration or enrolment, as the case may be, and the end of that calendar year.