S.L. 370.51 Art. 4Fees in relation to central securities depositories.

(1) A person that intends to establish and operate a central securities depository in Malta or to provide, or hold itself out to be providing, the service of a central securities depository in or from Malta shall, upon submission of an application to the competent authority for authorisation in accordance with article 24 of the Act, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application.

(2) A central securities depository authorised in accordance with article 25 of the Act shall, subject to the provisions of sub-regulation (4), pay to the competent authority an annual supervisory fee as established in the Second Schedule, as applicable.

(3) Notwithstanding the provisions of sub-regulation (2), the first annual supervisory fee due to the competent authority shall be the annual supervisory fee established in the Second Schedule, as applicable, prorated according to the period remaining between the date when the central securities depository is granted an authorisation in accordance with article 25 of the Act and the end of the calendar year in which such authorisation was granted.

(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 central securities depository is granted an authorisation under the Act, and 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 on the 1st January of each calendar year.