SCHEDULE 2: APPLICATION FEES PAYABLE TO THE AFSA FOR MARKET ACTIVITIES
2.1 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) |
|
Operating a Clearing House |
150 000; and additional 5 000 if there is an intention to clear Investment Tokens and have Direct Access Members |
|
Operating an Exchange |
150 000; and additional 5 000 if there is an intention to trade Investment Tokens and have Direct Access Members |
|
Operating a Loan Crowdfunding Platform |
15 000 |
|
Operating an Investment Crowdfunding Platform |
|
|
[intentionally omitted] |
[intentionally omitted] |
2.2 Application fees for modification and withdrawal of a Licence or Approved Individual's registration
|
Application to Modify |
Fee (USD) |
|
Modification of an Authorised Market Institution's Licence |
(a) An Authorised Market Institution applying to the AFSA to change the scope of its Licence and seeking to carry on one new Market or Regulated Activity must pay to the AFSA an application fee equal to 100% of the application fee for that new Market or Regulated Activity specified in table 2.1 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 and seeking to carry on more than one new Market and/or Regulated Activity, must pay to the AFSA an application fee equal to 100% of the highest of the application fees for new activities and 50% of an application fee in respect of each additional new activity specified in table 2.1 of Schedule 2 or table 1.1 of Schedule 1 of FEES. (c) An Authorised Market Institution applying to the AFSA to change the scope of its Licence, where the change is within the scope of an existing Market or Regulated Activity, or to vary or withdraw a condition or restriction on its Licence, must pay to the AFSA an application fee equal to 50% of the application fee for that Market or Regulated Activity specified in table 2.1 of Schedule 2 or table 1.1 of Schedule 1 of FEES. |
|
Modification of an Approved Individual's registration |
500 |
|
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 |
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 tables 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 of the application fees specified for any one of those activities and 50% of the fee for each additional activity specified in the corresponding fees tables); 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 individuals seeking Approved Individual status must pay an application fee in the amount of 500 USD in respect of each 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 1 400 USD.