Banks and Financial Institutions (Fees) Regulations, 2010

No. 118] Banks and Financial Institutions 1

B E L I Z E:

STATUTORY INSTRUMENT

No. 118 of 2010

REGULATIONS made by the Central Bank of Belize in exercise of the powers conferred upon it by section 81(1)(r), read with section 8 (2), of the Banks and Financial Institutions Act, Chapter 263 of the Laws of Belize, Revised Edition 2000, and all other powers thereunto it enabling, and approved by the Minister of Finance.

(Gazetted 18th December, 2010.)

1. These Regulations may be cited as the Short title.

BANKS AND FINANCIAL INSTITUTIONS (FEES) REGULATIONS, 2010.

2. The following fees are hereby prescribed for banks Prescribed and financial institutions:-. fees.

A: INITIAL LICENCE FEE

For banks - BZ$25,000.00
For financial institutions - BZ$10,000.00

B. ANNUAL LICENCE FEE

For banks 0.015% of total assets as reported in the previous financial

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year’s audited financial statements, or BZ$25,000.00, whichever is greater.

For financial institutions - BZ$10,000.00

C. APPLICATION FEE

For banks & financial institutions - BZ$5,000.00 (non refundable)

Commencement 3. (1) These Regulations shall come into force on the 1st and Repeal. day of January, 2011.

S.I. 4/96 (2) On the commencement of these Regulations, the Banks and Financial Institutions (Fees) Regulations, 1996 shall stand repealed.

MADE by the Central Bank this 29th day of November, 2010.

(GLENFORD YSAGUIRRE)
Governor
Central Bank of Belize

APPROVED by the Minister of Finance this 9th day of December, 2010.

(DEAN O. BARROW)
Minister of Finance

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