International Banking (Fees, Forms and Miscellaneous Provisions) Regulations, 2000 · s 4

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s 4United States Dollars 50,000 35,000 50,000 25,000

(1)

A bank licensed under the Order shall1 immediately upon being granted a licence, pay the appropriate annual licence fee to the Authority.

1537

(2)

Without prejudice to sub-regulation (1), the annual licence fees payable by a licensee thereafter shall become due on each anniversary of the grant of the licence. If the annual licence fee is not paid within sixty days of the due date, a penalty of twenty-five per cent of the licence fee shall immediately be payable.

Confirmation by home authority.