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2012-01-01

Financial Services (Consolidated Licensing and Fees) (Amendment) Rules 2012

The Financial Services Commission of Mauritius amended the licensing and fee schedules for securities, capital market intermediaries, and foreign investment dealers trading on the Global Business Exchange. The Rules update processing and fixed annual fees in both Rupees and US dollars, introducing tiered calculations based on the number of concurrent licenses held. These revised authorization tables and fee structures officially commenced operations on 1 October 2012.

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The text below is an internet version of the Rules made by the Financial Services Commission under section 93 of the Financial Services Act 2007, section 155 of the Securities Act 2005 and section 130 of the Insurance Act 2005 and is for information purpose only. Whilst reasonable care has been taken to ensure its accuracy, the authoritative version is the one published in the Government Gazette of Mauritius. FINANCIAL SERVICES (CONSOLIDATED LICENSING AND FEES) (AMENDMENT) RULES 2012 FSC Rules made by the Financial Services Commission under Section 93 of the Financial Services Act 2007, Section 155 of the Securities Act 2005 and Section 130 of the Insurance Act 2005.

  1. Citation These Rules may be cited as the Financial Services (Consolidated Licensing and Fees) (Amendment) Rules 2012.
  2. Interpretation In these Rules – "annual fee" has the same meaning as in the principal Rules; “principal Rules” means the Financial Services (Consolidated Licensing and Fees) Rules
  4. The principal Rules amended Part 1 of the First Schedule of the principal Rules is amended – (a) in the table for “Securities or Capital Market Intermediaries” – (i) by deleting the three items immediately following the item – SEC￾2.7 B Representative of Investment Adviser (Restricted) S 30 Rs. 2,500 ($250) Rs. 10,000 ($750) (b) by inserting the following tables immediately after the table for “Securities or Capital Market Intermediaries”

Investment Dealers trading on GBOT Code Licence Relevant section of Securities Act 2005 Processing Fee (Rupees/US$) Fixed Annual Fee (Rupees / US$) Other Fee SEC￾2.8 Investment Dealer (Commodity Derivatives Segment) S 29 Rs. 30,000 ($ 1000) Where a person holds: (i) only one licence listed in this table￾Rs 90,000 ($3,000); (ii) two licences listed in this table- Rs. 60,000 ($2,000) per licence; or (iii) more than two licences listed in this table - Rs. 45,000 ($1,500) per licence.

SEC￾2.9 Investment Dealer (Currency Derivatives Segment) S 29 Rs. 30,000 ($ 1000) Where a person holds: (i) only one licence listed in this table￾Rs 90,000 ($3,000); (ii) two licences listed in this table- Rs. 60,000 ($2,000) per licence; or (iii) more than two licences listed in this table -Rs. 45,000 ($1,500) per licence.

SEC￾2.10 Investment Dealer (Equity Segment) S 29 Rs. 30,000 ($ 1000) Where a person holds: (i) only one licence listed in this table￾Rs 90,000 ($3,000); (ii) two licences listed in this table- Rs. 60,000 ($2,000) per licence; or (iii) more than two

licences listed in this table - Rs. 45,000 ($1,500) per licence. *The fees set out in US$ shall be applicable only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence, and its representatives respectively. (c) by deleting the table for “Foreign Investment Dealers” and replacing it by the following table: Foreign Investment Dealers trading on GBOT Code Authorization Relevant Section of Securities Act 2005 Processing Fee (US$) Fixed Annual Fee (US$) Other Fee SEC-5.1 Foreign Investment Dealer (Commodity Derivatives Segment) S 29 (3) ($ 1,000) Where a person holds: (i) only one authorization listed in this table- ($3,000;) (ii) two authorizations listed in this table- ($2,000) per authorization; or (iii) more than two authorizations listed in this table – ($1,500) per

Investment Dealers-Government of Mauritius/Bank of Mauritius Securities Code Licence Relevant Section of Securities Act 2005 Processing Fee Fixed Annual Fee Other Fee SEC-3.0 Investment Dealer (Government of Mauritius Securities and Bank of Mauritius Securities Segment) S 29 Rs 2,500 Rs 15,000 -

authorization SEC- 5.2 Foreign Investment Dealer (Currency Derivatives Segment) S 29 (3) ($ 1,000) Where a person holds: (i) only one authorization listed in this table- ($3,000;) (ii) two authorizations listed in this table- ($2,000) per authorization; or (iii) more than two authorizations listed in this table –($1,500) per authorization.

SEC-5.3 Foreign Investment Dealer (Equity Segment) S 29(3) ($ 1000) Where a person holds: (i) only one authorization listed in this table- ($3,000;) (ii) two authorizations listed in this table- ($2,000) per authorization; or (iii) more than two authorizations listed in this table –($1,500) per authorization.

  1. Commencement These Rules shall come into operation on 1 st October 2012. Made by the Financial Services Commission on 27th September 2012.
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