S.L. 371.10 чл. 6AFees due by European credit institutions.

(1) A European credit institution that intends to establish a branch in Malta in accordance with regulation 3 of the

European Passport Rights for Credit Institutions Regulations shall, upon submission of a notification to the competent authority in accordance with the said regulation, pay the competent authority a notification fee as established in the First Schedule.

(2) A European credit institution that has established a branch in Malta in terms of regulation 3 of the European Passport Rights for Credit Institutions Regulations shall, subject to the provisions of sub-regulations (3) to (5), pay to the competent authority an annual supervisory fee established in the Second Schedule, as applicable:

Provided that in any case, the annual supervisory fee shall not be less than the minimum annual supervisory fee established in the Second Schedule, as applicable, and it shall not exceed the maximum annual supervisory fee established in the said Schedule, as applicable.

(3) Notwithstanding the provisions of sub-regulation (2), the first annual supervisory fee due to the competent authority shall be the minimum annual supervisory fee established in the Second Schedule, as applicable, prorated according to the period remaining between the date when the branch of such European credit institution is established in Malta in accordance with the regulation 3(4) of the European Passport Rights for Credit Institutions Regulations and the end of the calendar year in which such branch was established.

(4) The first annual supervisory fee due in accordance with sub-regulation (3) shall be paid to the competent authority on the date when the branch of the European credit institution is established in

Malta in accordance with regulation 3(4) of the European Passport Rights for Credit Institutions Regulations.

(5) Every annual supervisory fee following the first annual supervisory fee which is due in accordance with sub-regulation (2) shall be paid to the competent authority in two (2) instalments on the 1st January and 1st July of each year:

Provided that the instalment due on the 1st January shall be fifty per-cent (50%) of the annual supervisory fee due by the European credit institution for the previous year in accordance with sub-regulation (2) and the instalment due on the 1st July shall be the remaining balance of the annual supervisory fee due by the European credit institution for that year in accordance with sub-regulation (2).