S.L. 487.9 Art. 5Ancillary fees in relation to insurance agents, managers and brokers.

(1) Any person enrolled in the Agents List or the

Managers List under article 13 of the Act that intends to take on a new appointment with an insurer, reinsurer or an insurance broker, as applicable, shall, upon submission of an application to the competent authority to modify its enrolment accordingly, pay the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application.

(2) Where a person as referred to in sub-regulation (1), that has been appointed by an insurer, reinsurer or an insurance broker to carry on any one (1) or more classes under the business of insurance and, or reinsurance, intends to carry on any one (1) or more additional classes under the business of insurance and, or reinsurance on behalf of the same insurer, reinsurer or an insurance, as applicable, the said person shall, upon submission of an application to the competent authority to modify its enrolment accordingly, pay to the competent authority the application fee established in sub-regulation (1), as applicable, which application fee shall be reduced by twenty-five per cent (25%).

(3) Where a person as referred to in sub-regulation (1), that has been appointed by an insurer, reinsurer or an insurance broker to carry on any one (1) or more classes under the business of insurance and, or reinsurance, intends to stop carrying on any one

(1) or more such classes under the business of insurance and, or reinsurance on behalf of the same insurer, reinsurer or an insurance, as applicable, the said person shall, upon submission of an application to the competent authority to modify its enrolment accordingly, pay to the competent authority a modification fee of one thousand euro (€1,000).

(4) Any person enrolled in the Brokers List under article 13 of the Act that intends to make or enter into an underwriting agreement in accordance with article 32 of the Act shall, upon submission of an application to the competent authority for registration, pay the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application.

(5) A person as referred to in sub-regulation (4) that has made or entered into an underwriting agreement in accordance with the provisions of article 32 of the Act, which agreement provides that it shall be subject to an annual review, shall also pay the competent authority, on the first anniversary of the registration of the said agreement in accordance with the said article and annually thereafter on the date of such anniversary for as long as the same agreement remains in force, an annual registration fee as established in the First Schedule, as applicable.

(6) A person that intends to have their name restored on the Agents Register, the Managers Register, the Brokers Register, the Agents List, the Managers List or the Brokers List, as applicable, in accordance with article 18(1)(b) of the Act shall, upon submission of an application to the competent authority in accordance with article 18(2) of the said Act, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application.