Regulatory Alerts2013-05-24
Banking (Processing and Licence Fees) (Amendment) Regulations 2013
The Bank of Mauritius, with ministerial approval, amended the Banking (Processing and Licence Fees) Regulations 2007 to establish a fixed processing fee of Rs 250,000 for banks applying to transfer their undertakings. The amendment modifies regulation 3 by renumbering its existing provision and adding a new paragraph that references Part V of the Schedule. These regulations came into operation on 14 May 2013 and formally codify the fee structure under section 32A(1) of the Banking Act.
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