COLL 10.2 Obligation to pay periodic fees
General
A person identified in COLL 10 Annex 1 Ras the relevant fee payer for a regulated collective investment scheme must pay each periodic fee applicable to it in full and without deduction.
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.
Due date
Method of payment
A periodic fee must be paid using one of the payment methods specified in SUP 20.2.7A R.
Modifications for newly authorised or recognised schemes
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 COLL 10 Annex 1 R fee applies:
- (1)
the periodic fee required under COLL 10.2 is modified in accordance with the table at COLL 10.2.6 R; and
- (2)
the due date for payment is 30 days after:
- (a)
the making of the authorisation order for the scheme; or
- (b)
the scheme becomes recognised.
- (a)
Table. Modified fees for newly authorised or recognised schemes
This table belongs to COLL 10.2.5 R
Period in which authorisation or recognition is granted |
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% |