SCHEDULE 3: FINES
PART 1: FINES
PART 1: FINES
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SCHEDULE 3 FINES AND FEES |
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PART 1: FINES |
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Section |
Contravention |
Maximum Fine (US$)
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6(6) |
Person failing to provide a copy of assignment of rights |
1,500 |
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14(7) |
Prohibition against conduct of business without incorporation or registration in the AIFC |
10,000 |
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17(6) |
Foundation failing to notify Registrar of changes to By-laws |
2,000 |
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19(11) |
Foundation failing to notify Registrar of changes to Council |
2,000 |
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28-2 |
Foundation failing to notify Registrar of change of registered email address |
2,000 |
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31(1) |
Foundation failing to keep accounts or Accounting Records, or to make them available |
10,000 |
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31(2) |
Foundation failing to have its accounts approved by Council members |
5,000 |
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31(4) |
Foundation failing to file accounts |
10,000 |
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31(5) |
Person making a statement that is misleading, false or deceptive in a material way in respect of accounts |
10,000 |
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36(4) |
Foundation failing to file an annual return |
5,000 |
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60(1) |
Foundation failing to provide information to the Registrar |
10,000 |
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60(2) |
Foundation making a false or misleading statement to the Registrar |
10,000 |
PART 2: FEES
Application or notification |
Fee Payable (US$) |
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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