S.L. 403.4 Art. 9Fees payable by incorporated cell companies and incorporated cells.

(1) Where, pursuant to the Companies Act (Incorporated

Cell Companies Carrying on Business of Insurance) Regulations an application is made by -

(a) a company which shall be, when formed or constituted, authorised or, when transformed, authorised to carry on business of insurance as an incorporated cell company or an incorporated cell in terms of article 7 of the Act; or

(b) an incorporated cell company having no cells or an incorporated cell which shall be, when transformed, a non-cellular company authorised to carry on business of insurance, the applicant shall pay to the competent authority the fees applicable in terms of regulation 3.

(2) Where, pursuant to the Companies Act (Incorporated Cell Companies Carrying on Business of Insurance) Regulations, an application is made by an incorporated cell company having no incorporated cells which shall be, when transformed, authorised as a cell company, the company shall pay to the competent authority the fees specified in regulation 3.

(3) When annual quantitative templates are forwarded in accordance with Insurance Rules issued under article 32 of the Act by an incorporated cell company and an incorporated cell, the incorporated cell company and incorporated cell shall pay the competent authority the fees determined in regulation 5.