S.L. 345.5 Art. 4Fees payable by applicants for authorisation as a central securities depositary and by authorised central securities depositories.

The fees prescribed in respect of the application for and the retention of an authorisation to provide the service of a central securities depository shall be as follows:

(a) €4,000 upon submission of an application for authorisation irrespective of whether the authorisation is eventually issued or not;

(b) €10,000 as an annual supervisory fee, due on the 1st January of each year by each person authorised to provide the service of a central securities depository, if it is to continue to provide such service.