Securities and Futures Act 2001 · 2020 Revised Edition · Part 4 · Holders of Capital Markets Services Licence and Representatives
85. Licence fee
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The holder of a capital markets services licence must on a yearly basis on or before such date and in such manner as the Authority may specify pay such licence fee for each regulated activity to which the licence relates as the Authority may prescribe.
capital markets services licence
“capital markets services licence” means a licence that is granted by the Authority under section 86 to a person to carry on a business in any regulated activity;
Any licence fee paid to the Authority in respect of any regulated activity must not be refunded if —
the licence is revoked or suspended, or lapses during the period to which the licence fee relates;
[Deleted by Act 2 of 2009]
the holder of a capital markets services licence ceases to carry on business in that regulated activity during the period to which the licence fee relates; or
a section 101A prohibition order or an FSMA prohibition order has been made against the holder of a capital markets services licence.
Subject to subsection (2), the Authority may, where it considers appropriate, refund the whole or part of any licence fee paid to it.
Where the holder of a capital markets services licence fails to pay the licence fee by the date on which such fee is due, the Authority may impose a late payment fee of a prescribed amount for every day or part of a day that the payment is late and both fees are recoverable by the Authority as a judgment debt.