S.L. 370.3 Art. 4Payment of annual supervisoryfeeand payment of renewal of notification fee.

(1) There shall be paid to the competent authority the following annual supervisory fees, as applicable:

(a) investment services licence holders shall, upon the submission of the annual audited financial statements, pay an annual supervisory fee as established in the

Third Column of the Schedule: Provided that the first annual supervisory fee shall be due immediately once a licence is granted and shall be equal to a proportion of the minimum fee. The first annual supervisory fee payable shall be proportionate to the period remaining between the date of the granting of the licence and the established date for the submission of the annual audited financial statements;

(b) collective investment schemes, recognised persons or registered persons shall, upon the anniversary of the date of the granting of a licence, recognition, or registration, pay the annual supervisory fee established in the Third Column of the Schedule: Provided that the first annual supervisory fee shall be payable immediately once a licence, recognition or registration is granted.

(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 (Notified

CISs) Regulations, 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.

(3) There shall be paid to the competent authority by the Notified PIF upon the anniversary date of inclusion of a PIF in the List of Notified PIFs in terms of the Investment Services Act (Notified CISs) Regulations, a renewal of the notification fee established in the

Third Column of the Schedule:

Provided that the first annual renewal notification fee shall be payable by the Notified PIF immediately upon inclusion of the PIF in the List of Notified PIFs.