The Financial Services (Consolidated Licensing and Fees) (Amendment No. 2) Rules 2013 provides for a new fee structure based on a flat fee, plus an amount based on the number of Category 1 Global Business Corporations and Category 2 Global Business Corporations under the management of the MC, with additional fees for MCs offering Trusteeship services. It should be noted that the aggregate annual fee applicable to a MC licence shall not exceed USD 20,000 for any particular year. The new fee structure will be effective as from 1 July 2013.
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