S.L. 370.52 Art. 10Fees in relation to AIFs and PIFs. S.L. 370.34. 

(1) An AIFM that intends to have an AIF or one

(1) or more of its sub-funds included in the List of Notified AIFs shall, upon submission of an application to the competent authority for notification in accordance with regulation 6 of the Investment Services Act (Notified CISs) Regulations, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such AIF and every such sub-fund:

Provided that the provisions of this sub-regulation shall not apply where an AIF or a sub-fund as referred to in the said sub-regulation are licensed under the Act.

(2) A PIF that intends to be included, or have one (1) or more of its sub-funds included, in the List of Notified PIFs shall, upon submission of an application to the competent authority for notification in accordance with regulation 17 of the Investment

Services Act (Notified CISs) Regulations, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such PIF and every such sub-fund:

Provided that the provisions of this sub-regulation shall not apply where a PIF or a sub-fund as referred to in the said sub-regulation are licensed under the Act.

(3) Where an AIF has been included in the List of Notified AIFs upon the request of an AIFM, such AIFM shall, subject to the provisions of sub-regulation (5), pay to the competent authority an annual supervisory fee which shall be the aggregate of the following:

(a) the scheme supervisory fee established in the Second Schedule, as applicable; and

(b) where applicable, the sub-fund supervisory fee established in the Second Schedule, as applicable, with respect to every sub-fund of such AIF.

(4) A PIF that has been included in the List of Notified PIFs shall, subject to the provisions of sub-regulation (5), pay to the competent authority an annual supervisory fee which shall be the aggregate of the following:

(a) the scheme supervisory fee established in the Second Schedule, as applicable; and

(b) where applicable, the sub-fund supervisory fee established in the Second Schedule, as applicable, with respect to every sub-fund of such PIF.

(5) The annual supervisory fee due in accordance with sub-regulations (3) and (4) shall be paid to the competent authority on the date when an AIF or a PIF is included in the List of Notified AIFs or the List of Notified PIFs, as applicable, and annually thereafter on the date when such inclusion took place.