SCHEDULE 2: APPLICATION FEES PAYABLE TO THE AFSA FOR MARKET ACTIVITIES
1.1 Application fees for applying for Licence to carry on Market Activities
Application fees are determined by the Market Activities the Authorised Person conducts or intends to conduct, as set out below:
|
Application fee by activities |
Fee (USD) |
|
Operator of a Clearing House |
125 000; and 5 000 if the Operator intends to clear Investment Tokens and have Direct Access Members |
|
Operator of an Investment Exchange |
125 000; and 5 000 if the Operator intends to trade Investment Tokens and have Direct Access Members |
|
Operator of a Crowdfunding Platform |
5 000 |
|
Operating a Private Financing Platform |
5 000 |
_
1.2 Application fees for modification and withdrawal of a Licence or Approved Individual's registration
Notes
Fees for initial application—firm to conduct one or more Market Activities, or Market and Regulated Activities
An applicant seeking authorisation to conduct one or more Market Activities, or Market and Regulated Activities specified in the fees table must pay:
- (a) the fee specified for the Market Activity in the table above (or, if the applicant intends to carry on more than one Market Activity, or Market and Regulated Activities, the highest fee specified in the table for any of those activites); and
- (b) the fee for each individual for whom Approved Individual status is sought specified below.
Application fee for Approval of Individuals
An Authorised Market Institution submitting applications on behalf of additional individuals seeking
Approved Individual status must pay an application fee in the amount of 300 USD in respect of each additional Approved Individual application.
Application fee for change of control
An Authorised Market Institution applying for change of control must pay to the AFSA an application fee in the amount of 1 000 USD.
Fees for application to modify and withdraw
An Authorised Market Institution or Approved Individual applying to the AFSA to change the scope of its Licence or Approved Individual status, to have a condition or restriction varied or withdrawn, or to have its Licence or Approved Individual status withdrawn, must pay the prescribed fee set out in the table above.
|
Application to Modify |
Fee (USD)* |
|
Modification of an Authorised Firm's Licence |
(a) An Authorised Market Institution applying to the AFSA to change the scope of its Licence must pay to the AFSA an application fee equal 50% of the application fee for a new Market or Regulated Activity payable under table 1.1 of Schedule 2 or table 1.1 of Schedule 1 of FEES. (b) An Authorised Market Institution applying to the AFSA to change the scope of its Licence, which intends to carry on more than one new Market and/or Regulated Activity, must pay to the AFSA an application fee equal to 50% of the highest of the application fees for new activities payable under table 1.1 of Schedule 2 or table 1.1 of Schedule 1 of FEES. |
|
Modification of an Approved Individual's registration |
300 |
_
* Application fees for modification of a Licence or Approved Individual's registration prescribed herein are applied from 1 May 2022. Before 1 May 2022, these fees are not applied.
|
Application to Withdraw |
Fee (USD) |
|
Withdrawal of an Authorised Market Institution’s Licence
|
At present, the AFSA does not intend to charge an application fee for these activities. Any such application fee shall be determined by the AFSA at a later date. |
|
Withdrawal of an Approved Individual's registration |