Entire Act

SCHEDULE 3: FINES

PART 1: FINES

PART 1: FINES


SCHEDULE 3

FINES AND FEES

 

 PART 1: FINES

Section

Contravention

Maximum Fine (US$)


6(6)

Person failing to provide a copy of assignment of rights

1,500

14(7)

Prohibition against conduct of business without incorporation or registration in the AIFC

10,000

17(6)

Foundation failing to notify Registrar of changes to By-laws

2,000

19(11)

Foundation failing to notify Registrar of changes to Council

2,000

31(1)

Foundation failing to keep accounts or Accounting Records, or to make them available

10,000

31(2)

Foundation failing to have its accounts approved by Council members

5,000

31(4)

Foundation failing to file accounts

10,000

31(5)

Person making a statement that is misleading, false or deceptive in a material way in respect of accounts

10,000

36(4)

Foundation failing to file an annual return

5,000

60(1)

Foundation failing to provide information to the Registrar

10,000

60(2)

Foundation making a false or misleading statement to the Registrar

10,000


PART 2: FEES

Application or notification

Fee Payable (US$)

Application for registration of a Foundation

400

Notification of a change in registered office address

100

Notification of an appointment and cessation of a Council member

100

Notification of change of particulars of a Council member

100

Notification of an appointment and cessation of a Guardian

100

Notification of change of particulars of a Guardian

100

Notification of a change of name of a Foundation

100

Amendment of the Charter by the Founder(s) or in the event of Founder’s death by Court Order

100

Request for information from the Registrar

100

Application to strike off

100

Reinstatement of a Foundation on the Register

Nil

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