S.L. 514.6 Art. 3Payment of application and annual supervisory fees.

There shall be paid to the competent authority by any service provider, retirement scheme or retirement fund:

(a) upon submission of an application for the granting of a licence or recognition, irrespective of whether the application is eventually accepted or not, the application fee specified in the Second Column of the Schedule;

(b) on the date of the granting of a licence or recognition, the annual supervisory fee specified in the Third Column of the said Schedule;

(c) thereafter annually, upon the anniversary of such date as is mentioned in paragraph (b), the same annual supervisory fee established in the Third Column of the said Schedule.