Financial Services (Consolidated Licensing and Fees) (Amendment No. 2) Rules 2012

The text below is an internet version of the Rules made by the FSC under section 93 of the Financial Services Act 2007, section 155 of the Securities Act 2005 and section 130 of the Insurance Act 2005 and is for information purposes only. Whilst reasonable care has been taken to ensure its accuracy, the authoritative version is the one published in the Government Gazette of Mauritius. FINANCIAL SERVICES (CONSOLIDATED LICENSING AND FEES) (AMENDMENT No. 2) RULES 2012 FSC Rules made by the Financial Services Commission under Section 93 of the Financial Services Act 2007, Section 155 of the Securities Act 2005 and Section 130 of the Insurance Act 2005.

1. Citation
   These Rules may be cited as the Financial Services (Consolidated Licensing and Fees) (Amendment No. 2) Rules 2012.
2. Interpretation
   In these Rules –
   “principal Rules” means the Financial Services (Consolidated Licensing and Fees) Rules 2008.
3. The principal Rules amended
   Part 1 of the First Schedule to the principal Rules is amended –
   (a) in the Table for “Financial Service Providers / Activities” – (i) in Code FS-1.3 by deleting the words “Pension Fund Administrators” and replacing them by the words “Pension Scheme Administrator”; and (ii) by deleting Code FS-1.4; (b) in the Table for “Specialised Financial Services/ Institutions” by deleting Codes FS￾2.1, FS-2.2 and FS-2.6; and (c) by adding immediately after the Table for “The Trusts Act 2001” the following new
   table –

Private Pension Schemes
Code Licence/Authori sation
Relevant
Section of
Private
Pension
Schemes
Act 2012
Processing
Fee
(Rupees/ US$)
Variable Annual
Fee
(Rupees/ US$)
PPS-1.1 Pension Scheme S 9 Rs 6,000 Rs 30 per member PPS-1.2 Foreign Pension Scheme S 10 $ 200 $ 1 per resident member PPS-1.3 External Pension Scheme S 12 $ 200 $ 1 per member Authorisation to administer Private Pension Schemes Code Authorisation Relevant
Section of
Private
Pension
Schemes
Act 2012
Processing
Fee
(Rupees/US$)
Annual
Fee
(Rupees/US$)
PPS-2.1 Governing body to administer
Private
Pension
Scheme
S 27 Rs 30,000
($ 1,000)

4. Commencement
   These Rules shall come into operation on 1 st November 2012.
   Made by the Financial Services Commission on 31st October 2012.