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Status: You are viewing the version of the handbook as on 2005-06-30.

AUTH 4.2 Obligation to Pay Authorisation Fees

General

AUTH 4.2.1R

A person to whom this chapter applies must pay to the FSA an authorisation fee for each application made (or exercise of a Treaty right), as set out in AUTH 4 Annex 1 and AUTH 4 Annex 2 R. 1

Amount

AUTH 4.2.2R

In respect of a particular application (or exercise) the authorisation fee referred to in AUTH 4.2.1 R is the highest of the tariffs set out in part 1 of AUTH 4 Annex 1 and part 2 of AUTH 4 Annex 2 R which apply to that application (or exercise).1

AUTH 4.2.3G

If an application (or exercise of a Treaty right) falls within more than one category, only one fee is payable. That fee is the one for the category to which the highest fee tariff applies.

Due date and method of payment

AUTH 4.2.4R

The sum payable under AUTH 4.2.2 R must be paid:

  1. (1)

    by bankers draft, cheque or other payable order;

  2. (2)

    in full without deduction; and

  3. (3)

    on or before the date on which the application is made (or notice of exercise is given).

AUTH 4.2.5G

The appropriate authorisation fee is an integral part of an application for Part IV permission. Any application pack received by the FSA without the accompanying appropriate authorisation fee, in full and without deduction (see AUTH 4.2.4 R), will not be treated as an application made, incomplete or otherwise, in accordance with section 51(3)(a) of the Act. Where this is the case, the FSA will contact the applicant to point out that the application cannot be progressed until the appropriate fee has been received. In the event that the appropriate authorisation fee, in full and without deduction, is not forthcoming, the application pack will be returned to the applicant and no application will have been made.2

Modification for certain Treaty firms

AUTH 4.2.6R

If a certificate has been issued under paragraph 3(4) of schedule 4 to the Act in respect of an exercise of a Treaty right, no sum payable under AUTH 4.2.2 R.

AUTH 4.2.7R

If no certificate has been issued under paragraph 3(4) of schedule 4 to the Act in respect of an exercise of a Treaty right, the sum payable is as specified in Part 4 of AUTH 4 Annex 1.