International Banking (Fees) Regulations of 2010

No. 119] International Banking 1

B E L I Z E:

STATUTORY INSTRUMENT

No. 119 of 2010

REGULATIONS made by the Central Bank of Belize in exercise of the powers conferred upon it by section 45, read with sections 6(2)(h) and 10(1) of the International Banking Act, Chapter 267 of the Laws of Belize, Revised Edition 2000 (as amended by Act No. 34 of 2002), and all other powers thereunto it enabling, and approved by the Minister of Finance.

(Gazetted 18th December, 2010.)

1. These Regulations may be cited as the Short title.

INTERNATIONAL BANKING (FEES) REGULATIONS, 2010.

2. The following fees are hereby prescribed for Prescribed fees. international banks:-

A. INITIAL LICENCE FEE

unrestricted "A" Class - US$20,000.00
Restricted "B" Class - US$15,000.00

B. ANNUAL LICENCE FEE

Unrestricted "A" Class

2 International Banking [No. 119]

Total Assets (US$)	Annual Licence Fee (US$)
Total assets as reported in the previous financial year's audited financial statements
≤$30,000,000.00	$20,000.00
>$30,000,000.00 - $100,000,000.00	$25,000.00
>$100,000,000.00 or above	$40,000.00

Restricted "B" Class - US$20,000.00

C. APPLICATION FEE - US$2,500.00
(for both "A" Class and (non-refundable)
"B" Class licences)

Commencement and Repeal. 3. (1) These Regulations shall come into force on the 1st day of January, 2011.

(2) On the commencement of these Regulations, the S.I. 139/96 Offshore Banking (Fees) Order, 1996 shall stand repealed.

MADE by the Central Bank this 29th day of November, 2010.

(GLENFORD YSAGUIRRE)
Governor
Central Bank of Belize

APPROVED by the Minister of Finance this 9th day of December, 2010.

(DEAN O. BARROW)
Minister of Finance

Printed in Belize by the Government Printer