S.L. 371.10 Art. 5Payment of the annualsupervisory fee. Re-numbered and

(1) The first annual supervisory fee due in accordance with regulation 4(2) shall be paid to the competent authority on the date when the credit institution is granted a licence under the Act.

(2) Every annual supervisory fee following the first annual supervisory fee which is due in accordance with regulation 4(1) shall be paid to the competent authority in two (2) instalments on st st the 1 January and 1 July of each calendar year:

st Provided that the instalment due on the 1 January shall be fifty per-cent (50%) of the annual supervisory fee due by the credit institution for the previous year in accordance with regulation 4(1) and st the instalment due on the 1 July shall be the remaining balance of the annual supervisory fee due by the credit institution for that year in accordance with regulation 4(1).