S.L. 487.9 Art. 6Application and modification fees in relation to tied insurance intermediaries and ancillary insurance intermediaries.

(1) Where an authorised undertaking intends to appoint a person to act as a tied insurance intermediary on its behalf, such person shall, upon submission of an application to the competent authority for their enrolment in accordance with article 37

of the Act, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application:

Provided that where such person is a legal person, the application fee due in accordance with this sub-regulation shall be the following:

(a) the fixed application fee established in the First Schedule, as applicable; and

(b) where applicable, the variable application fee established in the First Schedule, as applicable, with respect to every branch established by such legal person.

(2) Where a tied insurance intermediary enrolled to act as such on behalf of an authorised undertaking in accordance with article 37 of the Act intends to carry on any one (1) or more additional classes under the business of insurance on behalf of the same undertaking, the said intermediary shall, upon submission of an application to the competent authority to modify their 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 an authorised undertaking or an enrolled insurance broker intends to appoint a person to act as an ancillary insurance intermediary on its behalf, such person shall, upon submission of an application to the competent authority for their enrolment in accordance with article 43E of the Act, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application:

Provided that where such person is a legal person, the application fee due in accordance with this sub-regulation shall be the following:

(a) the fixed application fee established in the First Schedule, as applicable; and

(b) where applicable, the variable application fee established in the First Schedule, as applicable, with respect to every branch established by such legal person.

(4) Where an ancillary insurance intermediary enrolled to act as such on behalf of an authorised undertaking or an enrolled insurance broker in accordance with article 43E of the Act intends to carry on any one (1) or more additional classes under the business of insurance on behalf of the same undertaking or broker, as applicable, the said intermediary shall, upon submission of an application to the competent authority to modify their enrolment accordingly, pay to the competent authority the application fee referred to in sub-regulation (3), as applicable, which application fee shall be reduced by twenty-five per cent (25%).

(5) Where a tied insurance intermediary or an ancillary insurance intermediary enrolled under the Act to act as such on behalf of an authorised undertaking or an enrolled insurance broker, as applicable, intends to stop carrying out any one (1) or more such classes of the business of insurance which it carries on behalf of the same undertaking or broker, the said intermediary shall, upon the submission of a request to the competent authority to modify their enrolment accordingly, pay to the competent authority a modification fee of two hundred and fifty euro (€250).