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2003-01-01

Collective Investment Schemes (Fees) Instrument 2003

The Minister of Finance, Planning and Economic Development issued this instrument to establish a standardized fee structure for collective investment schemes under the 2003 Act. It mandates non-refundable application fees ranging from Shs. 500,000 to Shs. 2,500,000 depending on the scheme type, alongside a fixed Shs. 1,500,000 annual licence fee for authorized directors and operators. Additionally, the instrument sets replacement and certification fees at Shs. 20,000 each and brings the regulations into force on November 17, 2003.

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STATUTORY INSTRUMENTS 2003 No. 88. THE COLLECTIVE INVESTMENT SCHEMES (FEES) INSTRUMENT, 2003.

ARRANGEMENT OF RULES Rules

  1. Citation and Commencement.
  2. Application fees.
  3. Annual fees.
  4. Repacement of licence fees.
  5. Certification fee.

STATUTORY INSTRUMENTS 2003 No. 88. The Collective Investment Schemes (Fees) Instrument, 2003. (Under sections 28 and 29 of the Collective Investment Schemes Act, 2003, Act No.4 of 2003). IN EXERCISE of the powers conferred on the Minister by sections 28 and 29 of the Collective Investment Schemes Act 2003, this Instrument is made this 11th day of November, 2003.

  1. Citation and Commencement This Instrument may be cited as the Collective Investment Schemes (Fees) Instrument, 2003 and shall come into force on the 17th day of November, 2003.

  2. Application fees Every applicant shall pay the following fees at the time of making an application to the Authority— Shs. (a) Non refundable licence application fee 500,000 (b) Licence approval fee for an investment company with variable capital and unit trust scheme 2,500,000 (c) Non refundable fee for giving written notice of intention to be recognised scheme 500,000 (d) Non refundable application fee to be a recognised scheme 500,000

  3. Annual fees An authorized corporate director, manager or operator of a recognised scheme shall pay an annual licence fee of Shs. 1,500,000.

  4. Replacement of licence fees Every application for the replacement of a licence shall be accompanied by a replacement of licence fee of Shs. 20,000.

  5. Certification fee Every application for a certified copy of licence shall be accompanied by a certification fee of Shs. 20,000. GERALD M. SSENDAULA, Minister of Finance, Planning and Economic Development.

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