Regulatory Alerts2018-01-01
Hire Purchase and Credit Sale (Fees) Regulations 2018
The Minister of Finance, Trade and Economic Planning has promulgated regulations specifying the annual licence fees mandated by the Hire Purchase and Credit Sale Act, 2013. The schedule establishes a SCR 25,000 charge for new licence issuance and a SCR 15,000 charge for subsequent renewals. These standardized fees apply to all licensed entities operating under the Act effective February 2018.
[5th March 2018] Supplement to Official Gazette 41
S.I. 13 of 2018
HIRE PURCHASE AND CREDIT SALE ACT, 2013
(Act 21 of 2013)
Hire Purchase and Credit Sale (Fees) Regulations, 2018
In exercise of the powers conferred by section 29 of the Hire Purchase and Credit Sale Act, the Minister of Finance, Trade and Economic Planning hereby makes the following Regulations—
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These Regulations may be cited as the Hire Purchase and Credit Sale (Fees) Regulations, 2018. Citation
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The fees payable under this Act are as specified in the Schedule below— Fees
SCHEDULE
| 1 | 2 |
|---|---|
| Purpose | Fees |
| Annual Fee payable upon issuance of a licence under section 7(1) | SCR 25,000 |
| Annual Fee payable upon renewal of a licence under section 7(2) | SCR 15,000 |
MADE this 23rd day of February, 2018.
PETER LAROSE MINISTER OF FINANCE, TRADE AND ECONOMIC PLANNING