S.L. 637.1 Art. 4Supervisory fee in relation to the provision of crowdfunding services.

(1) A person that is authorised under the Act and the

ECSP Regulation to provide crowdfunding services shall, subject to the provisions of sub-regulation (3), pay to the competent authority the following annual supervisory fee:

(a) three thousand and five hundred euro (€3,500) for the first two hundred and fifty thousand euro (€250,000) in net revenue or part thereof; and

(b) where applicable, four hundred euro (€400) for every additional two hundred and fifty thousand euro (€250,000) in net revenue or part thereof:

Provided that, in any case, the annual supervisory fee shall not exceed seven thousand and six hundred euro (€7,600).

(2) Notwithstanding the provisions of sub-regulation (1), the first annual supervisory fee due to the competent authority by a person as referred to in the said sub-regulation shall be the aggregate of the following:

(a) three thousand and five hundred euro (€3,500) prorated according to the period remaining between the date when such person is granted an authorisation under the Act and the ECSP Regulation and the end of the calendar year in which such authorisation was granted; and

(b) three thousand and five hundred euro (€3,500) prorated according to the period between the start of the following calendar year and the date when the next supervisory fee is due in accordance with sub-regulation (3).

(3) The first annual supervisory fee due in accordance with sub-regulation (2) shall be paid to the competent authority on the date when a person is granted an authorisation under the Act and the ECSP Regulation, and every annual supervisory fee following the first annual supervisory fee which is due by such person in accordance with sub-regulation (1) shall be paid to the competent authority one (1) month from the date of submission of the annual report in accordance with Article 16(1) of the ECSP Regulation.