S.L. 403.26 Art. 13Fees in relation to the transfer of the business of insurance.

(1) An authorised insurance undertaking that intends to transfer its general business in accordance with article 33

of the Act shall, upon submission of an application to the competent authority for approval in accordance with the said article, pay to the competent authority an application fee of zero point zero two per cent (0.02%) of its gross premium or technical provisions for the last financial year, whichever is the highest:

Provided that, in any case, the application fee shall not be less than the minimum application fee established in the First Schedule, as applicable.

(2) An insurance or reinsurance undertaking whose head office is in a country outside Malta that intends to transfer, in whole or in part, its general business or long term business to an undertaking authorised under the Act in accordance with article 37A of the Act shall, upon submission of a notification to the competent authority in accordance with the said article, pay to the competent authority an application fee as established in the First Schedule, as applicable.