Banking (Processing and Licence Fees) (Amendment) Regulations 2009

Government Notice No. 186 of 2009
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) of the Banking Act

1. These regulations may be cited as the Banking (Processing and Licence Fees)
   (Amendment) Regulations 2009.
2. In these regulations –
   "principal regulations" means the Banking (Processing and Licence Fees) Regulations 2007.
3. Regulation 4 of the principal regulations is amended –
   (a) in paragraph (3)(a), by adding after the word “Schedule”, the words “for its principal place of business”; (b) by inserting after subparagraph (a), the following new subparagraph – (aa) (i) Subject to subparagraph (b)(ii), where the central bank approves an application of a bank for the opening of any other place of business, the bank shall, at the time the approval is given, pay the fixed fee specified in Part I of the Schedule for every other place of business, on a pro-rated basis calculated as from the date of the approval to the next 30 June. (ii) The fixed fee payable by a bank, in respect of its other places of business, shall, irrespective of the number of other places of business approved by the central bank, not exceed Rs 1 million.
4. Regulation 6 of the principal regulations is amended –
   (a) in paragraph (4)(a), by deleting the words “pay the annual licence fee referred to in paragraph (2)” and replacing them by the words “pay the fixed fee specified in Part III of the Schedule for its principal place of business”; (b) by inserting after subparagraph (a), the following new subparagraph – (aa) (i) Subject to subparagraph (b)(ii), where the central bank approves an application by a foreign exchange dealer or money changer for the opening of any other place of business, the foreign exchange dealer or the money changer, as the case may be, shall, at the time the approval is given, pay the fixed fee specified in
   Part III of the Schedule for every other place of business, on a
   pro-rated basis calculated as from the date of the approval up to the next 30 June.

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(ii) The fixed fee payable by a foreign exchange dealer or money changer, as the case may be, in respect of its other places of business, shall, irrespective of the number of other places of business approved by the central bank, not exceed Rs 500,000.
5. The Schedule to the principal regulations is revoked and is replaced by the Schedule to
these regulations.
6. These regulations shall be deemed to have come into operation on 1 July 2009.
Made by the Bank of Mauritius with the approval of the Minister on 20 November 2009. _______________

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SCHEDULE
[Regulations 3, 4, 5, 6 and 7]
PART I
BANKING LICENCE
Rs
Processing fee … … … … … … … … … … … … … …. 90,000

Fixed fee in respect of –

(a) the principal place of business … … … … … … … … 1,000,000 (b) every other place of business ………………………… 50,000
PART II
DEPOSIT-TAKING BUSINESS LICENCE
Rs
Fixed fee … … … … … … … … … … … … … … 500,000
PART III
FOREIGN EXCHANGE DEALER LICENCE
Rs
Processing fee … … … … … … … … … … … … … … … 25,000

Fixed fee in respect of –
(a) the principal place of business … … … … … … … … 300,000 (b) every other place of business ..………………………… 25,000 MONEY-CHANGER LICENCE Rs Processing fee … … … … … … … … … … … … … … … 10,000

Fixed fee in respect of –
(a) the principal place of business … … … … … … … … 150,000 (b) every other place of business …………..……………… 25,000

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PART IV
FORMULA
Fee (in Rs)= 3-year average gross operating income of the institution x Rs1.75 mn Aggregate 3-year average operating income of banks and NBDTIs

• 3-year average total assets of the institution x Rs0.75mn
  Aggregate 3-year average total assets of banks and NBDTIs Where “NBDTIs” means non-bank deposit taking institutions. ] [ [ ]