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2021-01-01

Financial Services (Consolidated Licensing and Fees) (Amendment No. 2) Rules 2021

The Financial Services Commission issued Amendment No. 2 to the Consolidated Licensing and Fees Rules 2021, amending the First Schedule of the principal 2008 regulations. This amendment mandates an additional annual fee of Rs 200,000 (USD5,000) for entities authorized to operate as Special Purpose Funds. The revised licensing framework and fee structure officially take effect on 17 April 2021.

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Government Notice No. 92 of 2021 FINANCIAL SERVICES ACT FSC Rules made by the Financial Services Commission under Section 93 of the Financial Services Act and Section 155 of the Securities Act

  1. These Rules may be cited as the Financial Services (Consolidated Licensing and Fees) (Amendment No. 2) Rules 2021.
  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, under the heading ‘Collective Investment Schemes and Closed-end funds’ , in items SEC 3.1A, SEC 3.1 Bv, SEC 3.1Cv,SEC 3.2A, SEC 3.2Bv, SEC 3.2Cv by adding the following phrase in the fifth column – ‘An additional annual fees of Rs 200,000 (USD5000) for an authorization to operate as a Special Purpose Fund’
  4. These Rules shall come into operation on 17 April 2021. Made by the Financial Services Commission on 17 April 2021. 1454 Government Notices 2021 By Authority: Government Printing Department, La Tour Koenig 47/04/2021 – 1070
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