Regulatory Alerts2021-06-10
The Banking (Processing and Licence Fees) (Amendment) Regulations 2021
The Bank of Mauritius issued these regulations to amend the Banking (Processing and Licence Fees) Regulations 2015 by introducing definitions for exceptional events and reduced business activity. Financial institutions experiencing these conditions for over three months are exempt from licence fees or eligible for refunds of previously paid amounts. The regulations also revoke Regulation 9 and Part VIII of the Schedule, taking retrospective effect from 1 July 2020.
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