Notice: Periodic Basis for Transaction Levy Payments by Class A Licensees — FSC — VG

VIRGIN ISLANDS
STATUTORY INSTRUMENT 2020 NO. 54
FINANCING AND MONEY SERVICES ACT, 2009
(No. 9 of 2009)
A NOTICE
BY THE FINANCIAL SERVICES COMMISSION UNDER SECTION 45A (3) OF THE FINANCING AND MONEY SERVICES ACT, 2009 DECLARING THE PERIODIC BASIS FOR WHICH THE TRANSACTION LEVY COLLECTED BY A CLASS ‘A’ LICENSEE SHALL BE PAID TO THE COMMISSION [Gazetted 14th May, 2020] WHEREAS it is provided by section 45A (3) of the Financing and Money Services Act, 2009 (No. 9 of 2009) that the transaction levy collected by a licensee under subsection (1) of that
section shall be paid to the Financial Services Commission on a monthly basis or on such other
periodic basis as the Commission may, by a notice published in the Gazette, determine; NOW THEREFORE, in exercise of the power vested in the Commission, it is hereby determined that the transaction levy collected by a licensee under section 45A (1) of the Financing and Money Services Act, 2009 shall be paid to the Commission on a quarterly basis with effect from 30th June, 2020. Made by the Financial Services Commission this 11th day of May, 2020. [Sgd.] Kenneth Baker (Ag.) Managing Director Financial Services Commission

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Act No. 9 of 2009Not in RegAlert
“in exercise of the power vested in the Commission, it is hereby determined that the transaction levy collected by a licensee under section 45A (1) of the Financing and Money Services Act, 2009 shall be paid to the Commission on a quarterly…”