Home / CY AIF Law of 2018 / PART V SUPERVISION AND PENALTIES / Chapter 1: Supervision of AIFs /  [118] Fees and annual contributions.

118. Fees and annual contributions.

(1) The Securities and Exchange Commission may, by means of a directive, specify -

(a) the cases where the external manager or the AIF, in case it is internally managed, shall pay to the Securities and Exchange Commission-

• fees, for the purposes of this Law; and

• annual contributions, at the end of each calendar year, for the purposes of this Law; and

(b) the amount of fees and annual contributions of paragraph (a), as the case may be:

It is provided that, the provisions of paragraphs (a) and (b) shall not apply to an AIFM, which is an internally managed AIF; in this case, the directive issued by virtue of article 73 of the Alternative Investment Fund Managers Law shall apply.

(2) The fees and annual contributions paid in accordance with this article shall be calculated as revenue of the Securities and Exchange Commission, and in case of non-payment, further to the measures taken in accordance with the provisions of this Law, additional measures shall be taken for their receipt in accordance with the provisions of the Securities and Exchange Commission Law.