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CIS 18.2 Obligation to pay periodic fees

General

CIS 18.2.1R

A person identified in CIS 18 Annex 1 R as the relevant fee payer for a regulated collective investment scheme must pay each periodic fee applicable to it in full and without deduction.13

CIS 18.2.2G

A relevant fee payer will be required to pay a periodic fee for every year during which a regulated collective investment scheme has that status. If that person is the relevant fee payer for more than one regulated collective investment scheme, he will be required to pay a fee in relation to each. 1

Due date

CIS 18.2.3R

The relevant fee payer must pay the amount due on or before 30 April.1

Method of payment

CIS 18.2.4R

A periodic fee must be paid using one of the payment methods specified in SUP 20.2.7A R.12

Modifications for newly authorised or recognised schemes

CIS 18.2.5R

If an authorisation order is made in relation to a scheme, or a scheme becomes a recognised collective investment scheme during the course of a financial year to which a CIS 18 Annex 1 R applies:

  1. (1)

    the periodic fee required under CIS 18.4 is modified in accordance with Table CIS 18.2.6 R; and

  2. (2)

    the due date for payment is 30 days after:

    1. (a)

      the making of the authorisation order for the scheme; or

    2. (b)

      the scheme becomes recognised.1

CIS 18.2.6R

Modified fees for newly authorised or recognised schemes

This table belongs to CIS 18.2.5 R

Period in which authorisation or recognition is granted

a) Proportion of periodic fee payable

1 April to 30 June inclusive

100%

1 July to 30 September inclusive

75%

1 October to 31 December inclusive

50%

1 January to 31 March inclusive

25%1