Regulatory Alerts2012-11-27
Financial Institutions (Bank Licence Fees) (Amendment) Regulations 2012
The Central Bank of Seychelles issued these regulations to amend the Financial Institutions (Bank Licence Fees) Regulations, 2010 by removing offshore banking licence classifications. Specifically, the amendments repeal references to offshore licences in Regulations 3 and 4 and delete the corresponding $2,000 fee allocation from Schedule 1. Enacted on June 15, 2012, the regulations take effect immediately to streamline licensing categories and update fee structures for financial institutions.
[19th Jun e 2012] Supplement to Official Gazette S.L 37 of 2012 FINANCIAL INSTITUTIONS ACT, 2004 (Act 14 of20(4) Financial Institutions (Bank Licence Fees) (Amendment) Regulations, 2012 In exerc ise of the powers conferred by sections 5 and 10 of the Financial Institutions Act, 2004, the Centra l Bank of Seychelles makes the following Regul ations1. These Regulati ons may be cited as the Financial Institutions (Bank Licence Fees) (Amendment) Regul ations, 20 12. 2. The Financial Institutions (Bank Licence Fees) Regulation s, 20 I 0 are amended as follows - (a) in regulation 3 by repealing the words "or offshore banking licence"; (b) in regulati on 4 by repealing the words "or offshore banking licence"; (c) in Schedul e 1 by repealing the words and figures "Offshore banking licence $2,000 or equivalent in freely convertibl e currency". MADE this 15th day of June, 2012. CAROLINE ABEL GOVERNOR CENTRAL BANK OF SEYCHELLES 307 Citation Amendment or S. I. 2 1 01'20 10