S.L. 514.10 Art. 3Fees in relation to retirement schemes.

(1) A retirement scheme applying to the competent authority for a licence in accordance with article 4 of the Act shall, upon submission of an application to the competent authority in accordance with article 8 of the Act, pay to the competent authority an application fee as established in the First Schedule, as applicable.

(2) A retirement scheme licensed in accordance with article 9 of the Act shall, subject to the provisions of sub-regulation (3), pay to the competent authority an annual supervisory fee as established in the Second Schedule, as applicable.

(3) The annual supervisory fee due in accordance with sub-regulation (2) shall be paid to the competent authority on the date when a retirement scheme is granted a licence under the Act and annually thereafter on the date when such a licence was granted.