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2018-01-02

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Securities Industry (Fee) (Amendment) Rules, 2017

The Securities Commission repeals and replaces the First and Second Schedules to the Securities Industry (Fee) Rules, 2012, establishing new fee structures for persons registered under Parts V and VI of the Securities Industry Act, 2011. The amended rules specify application, registration, and annual renewal fees for marketplaces, clearing facilities, ancillary facilities, and various firm and individual categories, alongside filing fees for prospectuses, takeover bids, and other documents. Administrative fees are set for actions such as director appointments, share transfers, and name changes, while late payment penalties are calculated at one-twelfth of the annual fee for each outstanding month. These rules come into force on January 1, 2018.

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SECURITIES INDUSTRY (FEE)(AMENDMENT) RULES, 2017 Arrangement of Rules Rule

  1. Citation and Commencement...............................................................................2
  2. Amendment to First Schedule of S. I. No. 11 of 2012..........................................2 S.I. No. 82 of 2017

SECURITIES INDUSTRY (FEE)(AMENDMENT) RULES, 2017 SECURITIES INDUSTRY ACT, 2011 (No. 10 of 2011) SECURITIES INDUSTRY (FEE)(AMENDMENT) RULES, 2017 The Securities Commission, in exercise of the powers conferred by section 22 of the Securities Industry Act, 2011 (No. 10 of 2011), makes the following rules–

  1. Citation and Commencement. (1) These Rules may be cited as the Securities Industry (Fee) (Amendment) Rules, 2018. (2) These Rules shall come into force on the 1st day of January, 2018.
  2. Amendment to First Schedule of S. I. No. 11 of 2012. The First and Second Schedules to the Securities Industry (Fee) Rules, 2012 are repealed and replaced as follows — “SCHEDULE (Rule 3) A. FEES FOR PERSONS REGISTERED UNDER PART V Table of Fees for Persons registered under Part V FEE TYPE Category of Registration Application Fee Registration Fee Annual Renewal Fee (a) Marketplace $9,500.00 $13,500.00 $13,500.00 (b) Clearing Facility $3,500.00 $10,000.00 $10,000.00 (c) Ancillary Facility $2,000.00 $3,500.00 $4,500.00 B. FEES FOR PERSONS REGISTERED UNDER PART VI (FIRMS) Table of Fees for Persons registered under Part VI (Firms) FEE TYPE Category of Registration Application Fee Registration Fee Annual Renewal Fee Page - 2

SECURITIES INDUSTRY (FEE)(AMENDMENT) RULES, 2017 (a) Dealing in securities $950.00 $9,500.00 $10,500.00 (b) Managing Securities $950.00 $8,000.00 $9,500.00 (c) Advising on securities $950.00 $5,500.00 $7,000.00 (d) Arranging deals in securities $950.00 $4,000.00 $5,500.00 (e) Persons seeking to register for more than one category under (a)-(d) above $950.00 per category Full fee for function with the highest fee and $2,500.00 for each additional category. Full fee for function with the highest fee and $4,000.00 for each additional category. C. FEES FOR PERSON REGISTERED UNDER PART VI (INDIVIDUALS) Table of Fees for Persons registered under Part VI (Individuals) Category of Registration Application Fee Registration Annual Fee (a) Chief Executive Officer $350.00 $500.00 $500.00 (b) Compliance Officer $350.00 $500.00 $500.00 (c) Representative – Dealing/Trading $300.00 $450.00 $450.00 (d) Representative – Discretionary Management $300.00 $450.00 $450.00 (e) Representative – Advising Only $300.00 $450.00 $450.00 D. FILING FEES UNDER PARTS XI AND XVII Description Filing Fee (a) Filing of Preliminary Prospectus $1,500.00 (b) Filing – Final Prospectus 0.1% of issue value of securities minimum of $20,000.00 (c) Filing of an amended Final Prospectus $700.00 (d) Filing of Documents by approved foreign issuer exempted under Regulation 115 $2,000.00 Page - 3 Fee

SECURITIES INDUSTRY (FEE)(AMENDMENT) RULES, 2017 (e) Filing of Notice of Exempt Transaction $2,500.00 (f) Filing of Takeover Bid Document 0.1% of value of the bid (g) Filing of Director’s Circular $1,500.00 (h) Filing of Management Proxy Statement $700.00 (i) Filing of Interim Financial Statements No Fee (if filed within prescribed time period) (j) Filing of Audited Financial Statements No Fee (if filed within prescribed time period) E. ADMINISTRATIVE FEES Table of Administrative Fees under the Act. Description Administrative Fee (a) Appointment or Change in Directors $400.00 (b) Approval of issue, transfer or disposal of shares $400.00 (c) Letters of Good Standing $300.00 (d) Replacement Certificates (per certificate) $300.00 (e) Name Change $300.00 (f) Extension to file interim statements for a 3-month period (for a maximum of 2 extension requests) $150.00 (g) Extensions to file audited statements for a 3-month period (for a maximum of 2 extension requests) $700.00 (h) Surrender of Registration Certificate $300.00 (i) Application for “Exemption” or “Waiver” request $300.00 F. Table of Late Payment of Annual Renewal Fees under the Act Description Late Fee Late payment of annual renewal fee 1/12 of the amount of annual fee payable for each month the payment remains outstanding Made this 28th day of December, 2017 Signed Chairman Securities Commission Page - 4

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