S.L. 370.52 Art. 9Fees in relation to tied agents.       S.L. 370.42.     S.L. 370.42.     S.L. 370.42.

(1) A Maltese investment firm or a European investment firm exercising a European right that intends to appoint a tied agent established in Malta to carry out business in Malta or elsewhere shall, upon submission of an application to the competent authority for registration in accordance with regulation 4 of the

Investment Services Act (Tied Agents) Regulations, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application.

(2) Where a tied agent appointed by a firm as referred to in sub-regulation (1) has been registered in accordance with the

Investment Services Act (Tied Agents) Regulations, such firm 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 tied agent is registered in accordance with the Investment

Services Act (Tied Agents) Regulations and annually thereafter on the date when such registration took place.