S.L. 370.52 Art. 15Fees in relation to EuropeanAIFsand third country AIFs. S.L. 370.21. 

(1) A European AIFM that intends to market the units or shares of a European AIF that it manages to professional investors in Malta in accordance with regulation 5 of the Investment

Services Act (Marketing of Alternative Investment Funds)

Regulations shall, upon being notified by the European regulatory authority of its home Member State in accordance with Article 32(4) of the AIFM Directive as transposed in national law, pay the competent authority a notification fee which shall be the aggregate of the following:

(a) the scheme notification fee established in the First Schedule, as applicable; and

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

(2) A European AIFM that markets the units or shares of a

European AIF that it manages to professional investors in Malta in accordance with regulation 5 of the Investment Services Act

(Marketing of Alternative Investment Funds) Regulations shall, subject to the provisions of sub-regulation (3), 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 European AIF.

(3) The first annual supervisory fee due in accordance with sub-regulation (2) shall be paid to the competent authority on the date when the European AIFM can start marketing the units or shares of the European AIF in Malta in accordance with the regulation 5(8) of the Investment Services Act (Marketing of Alternative Investment

Funds) Regulations and annually thereafter on the date when such European AIFM was able to start marketing the units or shares of the European AIF in Malta in accordance with the said provision.

(4) The provisions of sub-regulations (1) to (3) shall not apply with respect to European AIFs that are EuVECA funds or EuSEF funds.

(5) A Maltese or a European AIFM that intends to market units or shares, being units or shares of a third country AIF that it manages and, or a European feeder AIF, to professional investors in

Malta in accordance with regulation 7 of the Investment Services Act

(Alternative Investment Fund Manager) (Third Country) Regulations shall, upon being notified by the European regulatory authority of its home Member State or the competent authority, as applicable, in accordance with Article 32(4) of the AIFM Directive, as applicable by virtue of Article 36(1)(a) of the said Directive, both as transposed in national law, pay the competent authority a notification fee which shall be the aggregate of the following:

(a) the scheme notification fee established in the First Schedule, as applicable; and

(b) where applicable, the sub-fund notification fee established in the First Schedule, as applicable, with respect to every sub-fund of such third country AIF and, or European feeder AIF.

(6) A Maltese or a European AIFM that markets units or shares, being units or shares of a third country AIF that it manages and, or a European feeder AIF, to professional investors in Malta in accordance with regulation 7 of the Investment Services Act

(Alternative Investment Fund Manager) (Third Country) Regulations shall, subject to the provisions of sub-regulation (7), 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 third country AIF and, or European feeder AIF.

(7) The first annual supervisory fee due in accordance with sub-regulation (6) shall be paid to the competent authority on the date when the Maltese or European AIFM can start marketing the units or shares of the third country AIF and, or the European feeder AIF in

Malta in accordance with regulation 5(8) of the Investment Services

Act (Alternative Investment Fund Manager) (Third Country) Regulations, as applicable by virtue of article 7(1)(a) of the said Regulations, and annually thereafter on the date when such Maltese AIFM or European AIFM was able to start marketing the units or shares of the third country AIF and, or the European feeder AIF in Malta in accordance with the said provision.

(8) A third country AIFM that intends to market units or shares, being units or shares of a third country AIF and, or a

European AIF which is registered in a Member State or EEA State other than Malta that it manages, to professional investors in Malta in accordance with regulation 22 of the Investment Services Act

(Alternative Investment Fund Manager) (Third Country) Regulations shall, upon providing the competent authority with the information set out in Article 24(2) of the AIFM Directive, as applicable by virtue of Article 42(1)(a) of the said Directive, both as transposed in national law, pay the competent authority a notification fee which shall be the aggregate of the following:

(a) the scheme notification fee established in the First Schedule, as applicable; and

(b) where applicable, the sub-fund notification fee established in the First Schedule, as applicable, with respect to every sub-fund of such third country AIF and, or European AIF.

(9) A third country AIFM that markets units or shares, being units or shares of a third country AIF and, or a European AIF which is registered in a Member State or EEA State other than Malta that it manages, to professional investors in Malta in accordance with regulation 22 of the Investment Services Act (Alternative Investment

Fund Manager) (Third Country) Regulations shall, subject to the provisions of sub-regulation (10), 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 third country AIF and, or European AIF.

(10) The first annual supervisory fee due in accordance with sub-regulation (9) shall be paid to the competent authority on the date when it issues a confirmation of receipt of the information referred to in sub-regulation (7) from the third country AIFM, and annually thereafter on the date when such confirmation of receipt was issued by the competent authority.