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2014-03-31

Financial Institutions (Bank Licence Fees) (Amendment) Regulations 2014

The Central Bank of Seychelles, in consultation with the Minister of Finance, Trade and Investment, has issued regulations to amend the banking licence fee structure under the Financial Institutions Act, 2004. These regulations specifically update Schedule 1 of the Financial Institutions (Bank Licence Fees) Regulations, 2010 by replacing the existing R20,000 fee with a new rate of R75,000. Effective upon promulgation on 10 March 2014, the amendment legally mandates the increased fee for all banking licence holders to align with updated regulatory cost requirements.

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[10th March 2014] Supplement to Official Gazette S.I. 18 of 2014 FINANCIAL INSTITUTIONS ACT, 2004 (Act 14 of 2004 ) Financial Institutions (Bank Licence Fees) (Amendment) Regulations, 2014 In exercise of the powers conferred by section 5 and 10 of the Financial Institutions Act, 2004, the Central Bank . of Seychelles, in consultation with the Minister of Finance, Trade and Investment, hereby makes the following regulations, namely-,

  1. These regulations may be cited as the Financial Institutions (Bank Licence Fees) (Amendment) Regulations,
  3. The Financial Institutions (Bank Licence Fees) Regulations, 2010 is hereby amended by repealing in Schedule 1, the letter and figures "R20,000" appearing against the entry relating to Banking licence, and substituting theref()r the letter and figures "R 75,000" MADE this 10th day of March. 2014. CAROLINE ABEL GOVERNOR CENTRAL BANK OF SEYCHELLES 1155 Citation Amendment of S.1. 21 of2010 as amended by S.1. 37 of2012
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