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2016-11-07

Banking (Processing and License Fees) (Amendment) Regulations 2016

The Bank of Mauritius, with ministerial approval, promulgated the Banking (Processing and License Fees) (Amendment) Regulations 2016 to revise fee structures under the Banking Act. The instrument revokes Regulation 10 of the principal 2015 regulations and amends the Schedule by substituting item 2(a) with a fixed 500,000 charge for the principal place of business and entirely revoking Part IX. These amendments are deemed effective as of 1 July 2016, thereby updating the licensing and processing fee framework for regulated entities.

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Government Notice No. 214 of 2016 THE BANKING ACT Regulations made by the Bank of Mauritius, with the approval of the Minister, under sections 8 and 14(5) of the Banking Act

  1. These regulations may be cited as the Banking (Processing and License Fees) (Amendment) Regulations 2016.
  2. In these regulations – "principal regulations" means the Banking (Processing and Licence Fees) Regulations
  4. Regulation 10 of the principal regulations is revoked.
  5. The Schedule to the principal regulations is amended – (a) in Part VII, by deleting item 2(a) and its corresponding entry and replacing it by the following item and its corresponding entry – (a) the principal place of business 500,000 (b) by revoking Part IX.
  6. These regulations shall be deemed to have come into operation on 1 July 2016. Made by the Bank of Mauritius, with the approval of the Minister, on 23 September
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