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2013-05-24

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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Note : The internet version of these Regulations is for information only. The authoritative version is the one published in the Government Gazette of Mauritius. Government Notice No. 108 of 2013 THE BANKING ACT Regulations made by the Bank of Mauritius, with the approval of the Minister, under sections 5(4)(h), 8, 12(4), 14(2)(b) and (5) and 32A(1) of the Banking Act

  1. These regulations may be cited as the Banking (Processing and Licence Fees) (Amendment) Regulations 2013.
  2. In these regulations – “principal regulations” means the Banking (Processing and Licence Fees) Regulations
  4. The principal regulations are amended, in regulation 3, by – (a) numbering the existing provision as paragraph (1); (b) adding the following new paragraph – (2) For the purposes of section 32A(1) of the Act, the processing fee payable by a bank in respect of an application for the transfer of its undertaking shall be the fee specified in Part V of the Schedule.
  5. The Schedule of the principal regulations is amended by adding the following new Part – PART V TRANSFER OF UNDERTAKING BY BANK Rs Processing fee … … … … … … … … … … … … … … … 250,000
  6. These regulations shall come into operation on 14 May 2013. Made by the Bank of Mauritius, with the approval of the Minister, on 14 May 2013.
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