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2022-01-01

Financial Services (Consolidated Licensing and Fees) (Amendment No. 2) Rules 2022

The Financial Services Commission of Mauritius has issued Amendment No. 2 to its Consolidated Licensing and Fees Rules, introducing a standardized fee structure for virtual asset service providers and initial token offering issuers. The amendment updates the First Schedule by establishing five specific virtual asset licence classes—broker-dealer, wallet services, custodian, advisory, and market place—alongside a dedicated class for token issuers. Each licence class now carries defined processing and fixed annual fees denominated in both United States dollars and Mauritian rupees, with the regulations taking effect on 7 May 2022.

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LEGAL SUPPLEMENT 1533 to the Government Gazette of Mauritius No. 67 of 7 May 2022 Veemul iMac4/Govt Notices/2022/The FS_Consolidated Licensing and Fees_Amd No. 2_Rules 2022 - 06.05.2022 - 2nd Proof (Mins) Government Notice No. 98 of 2022 THE FINANCIAL SERVICES ACT FSC Rules made by the Financial Services Commission under Section 93 of the Financial Services Act

  1. These rules may be cited as the Financial Services (Consolidated Licensing and Fees) (Amendment No. 2) Rules 2022.
  2. In these rules – “principal rules” means the Financial Services (Consolidated Licensing and Fees) Rules 2008.
  3. The First Schedule to the principal rules is amended, in PART I by adding the following new table – Virtual Asset Service Providers Code Class of Licence Relevant section of The Virtual Asset and Initial Token Offering Services Act 2021 Processing Fee Fixed Annual Fee VA – 1.1 Virtual Asset Broker - Dealer (Class M) 7 USD 1,000 (MUR 45,000) USD 2,000 (MUR 90,000) VA – 1.2 Virtual Asset Wallet Services (Class O) 7 USD 1,000 (MUR 45,000) USD 1,900 (MUR 85,000)

1534 Government Notices 2022 Veemul iMac4/Govt Notices/2022/The FS_Consolidated Licensing and Fees_Amd No. 2_Rules 2022 - 06.05.2022 - 2nd Proof (Mins) Virtual Asset Service Providers Code Class of Licence Relevant section of The Virtual Asset and Initial Token Offering Services Act 2021 Processing Fee Fixed Annual Fee VA – 1.3 Virtual Asset Custodian (Class R) 7 USD 1,500 (MUR 70,000) USD 2,500 (MUR 110,000) VA – 1.4 Virtual Asset Advisory Services (Class I) 7 USD 3,000 (MUR 135,000) USD 5,000 (MUR 220,000) VA – 1.5 Virtual Asset Market Place (Class S) 7 USD 3,000 (MUR 135,000) USD 5,000 (MUR 220,000) VT –1.1 Issuers of Initial Token Offerings 23 USD 2,000 (MUR 90,000) – 4. Commencement These rules shall come into operation on 07 May 2022. Made by the Financial Services Commission on 07 May 2022. By Authority: Government Printing Department, La Tour Koenig 67/05/2022 – 1001

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