Regulatory Alerts2016-01-01
Financial Services (Consolidated Licensing and Fees) (Amendment No. 4) Rules 2016
The Financial Services Commission amended the First Schedule of its 2008 Consolidated Licensing and Fees Regulations to introduce two new fee categories for overseas family offices. The amendment distinguishes between single and multiple family structures, establishing specific licensing fees in both Mauritian Rupees and US Dollars. Tiered pricing applies to multiple family offices, charging a base rate for the first family and reduced fees for each additional family.
1870 Government Notices 2016
Government Notice No. 254 of 2016
FINANCIAL SERVICES ACT
FSC Rules made by the Financial Services Commission under section 93 of the Financial Services Act
1. Citation These rules may be cited as the Financial Services (Consolidated Licensing and Fees) (Amendment No. 4) Rules 2016.
2. Interpretation In these rules – “principal rules” means the Financial Services (Consolidated Licensing and Fees) Rules 2008.
3. The principal rules amended The First Schedule to the principal rules is amended, in PART I, under the heading ‘FINANCIAL SERVICE PROVIDERS/ ACTIVITIES’, by inserting immediately after item FS-1.11, the following two new items –
| FS-1.12 | Overseas family office (single) | 14 | Rs 30,000 USD 1,000 | Rs 75,000 USD 2,500 |
| FS-1.13 | Overseas family office (multiple) | 14 | Rs 30,000 (USD 1,000) which includes the first family and Rs 15,000 (USD 500) for each additional family | Rs 75,000 (USD 2,500) which includes the first family and Rs 15,000 (USD 500) for each additional family |
Made by the Financial Services Commission on 30 November 2016.
BY AUTHORITY: GOVERNMENT PRINTING DEPARTMENT, LA TOUR KOENIG 105/12/16 – 1224