The Collective Investment Schemes (Fees) Instrument, 2003.

(Under sections 28 and 29 of the Collective Investment Schemes Act, 2003, Act No.4 of2003).

In exercise of the powers conferred on the Minister by sections 28 and 29 of the Collective Investment Schemes Act 2003, this Instrument is made this 11th day of November, 2003.

1.           Citation and Commencement

This Instrument may be cited as the Collective Investment Schemes (Fees) Instrument, 2003 and shall come into force on the 17th day of November, 2003.

2.           Application fees

Every applicant shall pay the following fees at the time of making an application to the Authority—

Shs.

(a)       Non refundable licence application fee              500,000

(b)   Licence approval fee for an investment company with variable capital and

unit trust scheme                                                             2,500,000

(c)       Non refundable fee for giving written notice

of intention to be recognised scheme                                 500,000

(d)       Non refundable application fee to be a

recognised scheme                                                             500,000

3.           Annual fees

An authorized corporate director, manager or operator of a recognised scheme shall pay an annual licence fee of Shs. 1,500,000.

4.           Replacement of licence fees

Every application for the replacement of a licence shall be accompanied by a replacement of licence fee of Shs. 20,000.

5.            Certification fee

Every application for a certified copy of licence shall be accompanied by a certification fee of Shs. 20,000.

GERALD M. SSENDAULA,

Minister of Finance, Planning and Economic Development.