Decision on Exemption from Payment of Part of Fees for Certain Periods in 2017

CLASS: 402-01/17-03/03 REF NO: 326-01-220-221-17-1 Zagreb, August 25, 2017

Based on Article 17(1)(10) of the Statute of the Croatian Financial Services Supervisory Agency ("Official Gazette" No. 53/12), in conjunction with Article 3(4) of the Rulebook on the Calculation, Amount, and Collection of Fees Payable to the Croatian Financial Services Supervisory Agency for 2017 ("Official Gazette" No. 121/16), the Administrative Board of the Croatian Financial Services Supervisory Agency, at its meeting held on August 25, 2017, adopted

DECISION on the Exemption from Payment of Part of the Fees

I. Obligors of fee payment under Article 2 of the Rulebook on the Calculation, Amount, and Collection of Fees Payable to the Croatian Financial Services Supervisory Agency for 2017 ("Official Gazette" No. 121/16, hereinafter: the Rulebook) are exempted from payment of part of the fees for certain periods in 2017.

II. Monthly obligors of fee payment are exempted from payment of the fee for the period from September 1 to September 30, 2017, in the amount of 100% of the calculated fee, and for the period from October 1 to October 31, 2017, in the amount of 20% of the calculated fee, in accordance with the provisions of the Rulebook, namely:

• insurance companies and reinsurance companies, pursuant to Article 4(1) of the Rulebook,
• asset management companies for mandatory pension funds, pursuant to Article 8(1) of the Rulebook,
• asset management companies for voluntary pension funds, pursuant to Article 9(1) of the Rulebook,
• asset management companies for UCITS funds and UCITS funds, pursuant to Article 10(1) to (8) of the Rulebook,
• UAIFs performing AIF management activities with a public offer in the Republic of Croatia, pursuant to Article 10a(1) of the Rulebook,
• UAIFs performing AIF management activities, pursuant to Article 10a(3) to (9) of the Rulebook,
• asset management companies for funds established by special laws, pursuant to Article 10b(1) of the Rulebook.

III. Quarterly obligors of fee payment are exempted from payment of part of the fee for the period from July 1 to September 30, 2017, in the amount of 40% of the fee for the aforementioned period, calculated in accordance with the provisions of the Rulebook, namely:

• stock exchanges, pursuant to Article 6(1) to (3) of the Rulebook,
• central securities depositories, pursuant to Article 6(4) of the Rulebook,
• central counterparties, pursuant to Article 6(5) of the Rulebook,
• credit institutions, pursuant to Article 7(1) to (3) of the Rulebook,
• investment firms, pursuant to Article 7(5) to (7) of the Rulebook,
• asset management companies for investment funds, pursuant to Article 7(9) of the Rulebook,
• leasing companies, pursuant to Article 11(1) of the Rulebook,
• factoring companies, pursuant to Article 12(1) of the Rulebook,
• pension insurance companies, pursuant to Article 13(1) of the Rulebook,
• pension buyout companies, pursuant to Article 14(1) of the Rulebook.

IV. Semi-annual obligors of fee payment are exempted from payment of part of the fee for the period from July 1 to December 31, 2017, in the amount of 20% of the fee for the aforementioned period, calculated in accordance with the provisions of the Rulebook, namely:

• UAIFs performing AIF management activities with a private offer in the Republic of Croatia, pursuant to Article 10a(1) of the Rulebook,
• leasing companies from third countries and leasing companies from a Member State under Article 46(2) of the Leasing Act that perform leasing activities in the Republic of Croatia through a branch pursuant to Article 48 of the Leasing Act, as well as leasing companies from a Member State under Article 46(1) of the Leasing Act that perform leasing activities in the Republic of Croatia through a branch, pursuant to Article 11(6) of the Rulebook,
• factoring companies from third countries and factoring companies from another Member State under Article 59(2) of the Factoring Act that perform factoring activities in the Republic of Croatia through a branch pursuant to Article 61 of the Factoring Act, as well as factoring companies from another Member State under Article 59(1) of the Factoring Act that perform factoring activities in the Republic of Croatia through a branch, pursuant to Article 12(6) of the Rulebook.

V. Annual obligors of fee payment are exempted from payment of part of the fee for the period from January 1 to December 31, 2017, in the amount of 10% of the fee for the aforementioned period, calculated in accordance with the provisions of the Rulebook, namely:

• insurance representation companies, sole proprietors for insurance representation, insurance and reinsurance brokerage companies, credit institutions, investment firms, and all other legal persons holding a license for insurance representation activities, pursuant to Article 5(1) of the Rulebook,
• insurance or reinsurance companies from another Member State of the European Union or a State party to the Agreement on the European Economic Area under Article 83(1) of the Insurance Act that perform insurance or reinsurance activities in the Republic of Croatia via the freedom to provide services, pursuant to Article 4(5) of the Rulebook,
• insurance or reinsurance companies from another Member State under Article 83(2) of the Insurance Act that perform insurance or reinsurance activities in the Republic of Croatia through a business establishment or a branch established in the Republic of Croatia, pursuant to Article 4(6) of the Rulebook,
• insurance companies from third countries under Article 17(1)(5) and (3)(4) of the Insurance Act that perform insurance activities in the Republic of Croatia through a business establishment or perform reinsurance activities via the freedom to provide services or a business establishment, pursuant to Article 4(7) of the Rulebook,
• insurance and reinsurance companies from the Swiss Confederation under Article 17(1)(4) and (3)(3) of the Insurance Act that perform insurance activities in the Republic of Croatia through a business establishment or perform reinsurance activities via the freedom to provide services or a business establishment, pursuant to Article 4(8) of the Rulebook,
• credit institutions from another Member State that directly provide investment services and perform activities under Article 5(1) and (2) of the Capital Market Act in the Republic of Croatia, pursuant to Article 7(4) of the Rulebook,
• investment firms with headquarters in another Member State that directly provide investment services and perform activities under Article 5(1) and (2) of the Capital Market Act in the Republic of Croatia, pursuant to Article 7(8) of the Rulebook,
• pension insurance companies from another Member State that directly perform activities under Article 9(1)(3) of the Pension Insurance Companies Act in the Republic of Croatia, pursuant to Article 13(6) of the Rulebook,
• pension insurance companies from another Member State that perform activities under Article 9(1)(3) of the Pension Insurance Companies Act in the Republic of Croatia through a branch established in the Republic of Croatia, pursuant to Article 13(7) of the Rulebook.

VI. This Decision enters into force on the day of its adoption and is publicly published on the website of the Croatian Financial Services Supervisory Agency.

CHAIRMAN OF THE ADMINISTRATIVE BOARD Petar-Pierre Matek