Mutual Fund and Hedge Fund Amendment of Schedule 1 Regulations 2020

[31st January 2020] Supplement to Official Gazette 51

S.I. 13 of 2020

MUTUAL FUND AND HEDGE FUND ACT

(Cap 285)

Mutual Fund and Hedge Fund (Amendment of Schedule 1) Regulations, 2020

In exercise of the powers conferred by section 34 of the Mutual Fund and Hedge Fund Act, the Minister of finance makes the following regulations—

1. These regulations may be cited as the Mutual Fund and Hedge Fund (Amendment of Schedule 1) Regulations, 2020. Citation

2. Schedule 1 to the Mutual Fund and Hedge Fund Act is repealed and replaced with the following—

“SCHEDULE 1

1. Application fees

(a) an application for a private fund licence: $750;

(b) an application for a professional fund: $1000;

(c) an application for a public fund: $1500;

(d) an exemption application for an exempt foreign fund under section 3(14) from the requirement to obtain a fund licence: $2000;

(e) an application for a mutual fund administrator licence: $1500;

(f) an application for a restricted mutual fund administrator's licence: $1000;

---

52 Supplement to Official Gazette [31st January 2020]

(g) an exemption application under section 8(2) from the requirement to obtain a fund administrators licence: $1500.

2. Annual licence fees and other fees

(a) Private Fund: $1000;

(b) Professional Fund: $1250;

(c) Public Fund: $1500;

(d) annual renewal of exemption for an exempt foreign fund under section 3(17) from the requirement to obtain a fund licence (payable as from the expiry of one year from the date of issuance of approval to the initial exemption application and annually thereafter): $2000;

(e) annual fund administrator's licence fee: $2000;

(f) annual restricted fund administrator: $1500;

(g) annual exemption renewal under section 8(5) from the requirement to obtain a fund administrator's licence (payable as from the expiry of one year from the date of issuance of approval to the initial exemption application, and annually thereafter): $2000.

3. Miscellaneous fees

(a) application by public fund for approval under section 7(1) of a proposed offering document or amended offering document, as the case may be: $500;

(b) Fee for search under section 4(4) of the public register (licensed funds or exempt foreign funds): $150;

(c) Fee for search under section 11(12) of the public register (licensed fund administrators or approved foreign administrators: $150;

---

[31st January 2020] Supplement to Official Gazette 53

(d) Fee per page for obtaining a copy of any document available on the public search of the register: $2.50 per page;

(e) Fee per official search under section 4(5) or 4(6): $200;

(f) Fee per official search under section 11(13) or 11(14): $200.”

MADE this 31st day of January, 2020.

MAURICE LOUSTAU-LALANNE MINISTER OF FINANCE, TRADE, INVESTMENT AND ECONOMIC PLANNING