S.L. 514.10 Art. 4Fees in relation to retirement funds. 

(1) A retirement fund applying to the competent authority for a licence in accordance with article 5 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 the following application fee:

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

(b) where applicable, the sub-fund application fee established in the First Schedule, as applicable, with respect to every sub-fund.

(1a) Where a retirement fund licensed in accordance with article 9 of the Act intends to create one (1) or more new sub-funds, such retirement fund shall pay to the competent authority the sub-fund application fee established in the First Schedule, as applicable, with respect to every such sub-fund.

(2) A retirement fund licensed in accordance with article 9 of the Act shall, subject to the provisions of sub-regulation (3), pay to the competent authority the following annual supervisory fee:

(a) the fund supervisory fee established in the Second Schedule, as applicable; and

(b) where applicable, the sub-fund supervisory fee established in the Second Schedule, as applicable, with respect to every sub-fund established by the date when the annual supervisory fee is due in accordance with sub-regulation (3).

(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 fund is granted a licence under the Act and annually thereafter on the date when such a licence was granted.