S.L. 645.2 Art. 4Annual supervisory fee.

(1) A credit servicer authorised to act as such under the Act shall pay to the competent authority an annual supervisory fee of ten thousand euro (€10,000) where the net revenue of that credit servicer for the year does not exceed two hundred and fifty thousand euro (€250,000):

Provided that, where the net revenue of such credit servicer for a particular year exceeds two hundred and fifty thousand euro (€250,000), the annual supervisory fee shall be ten thousand euro (€10,000) for the first two hundred and fifty thousand euro (€250,000) in net revenue for that year and an additional one thousand euro (€1,000) for every additional two hundred and fifty thousand euro (€250,000) in net revenue or part thereof for the same year:

Provided further that, in any case, the annual supervisory fee shall not exceed twenty thousand euro (€20,000).

(2) Notwithstanding sub-regulation (1), the first annual supervisory fee due to the competent authority shall be the aggregate of the following:

(a) ten thousand euro (€10,000) prorated according to the period remaining between the date wherein the applicant is granted authorisation to act as a credit servicer under the Act and the end of the calendar year in which such authorisation was granted; and

(b) ten thousand euro (€10,000) 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 regulation 5(2).