S.L. 370.52 Art. 8Fees in relation to private collective investment schemes. S.L. 370.06.      S.L. 370.06.

(1) A collective investment scheme that satisfies the requirements established in regulation 2 of the Investment

Services Act (Recognition of Private Collective Investment Schemes)

Regulations shall, upon submission of an application to the competent authority for recognition in accordance with regulation 3 of the said Regulations, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application.

(2) A private collective investment scheme shall, subject to the provisions of sub-regulation (3), pay to the competent authority an annual supervisory fee as established in the Second Schedule, as applicable.

(3) The annual supervisory fee due in accordance with sub-

regulation (2) shall be paid to the competent authority on the date when a private collective investment scheme is granted recognition under the Investment Services Act (Recognition of Private

Collective Investment Schemes) Regulations and annually thereafter on the date when such recognition was granted.