Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2025 (SL 66 of 2025)

Banks and Trust Companies Act (2025 Revision) BANKS AND TRUST COMPANIES (LICENCE APPLICATIONS AND FEES)

PUBLISHING DETAILS

Regulation 1

Banks and Trust Companies Act (2025 Revision) BANKS AND TRUST COMPANIES (LICENCE APPLICATIONS AND FEES) (AMENDMENT) REGULATIONS, 2025 In exercise of the powers conferred by section 27 of the Banks and Trust Companies Act (2025 Revision), the Cabinet makes the following Regulations — Citation These Regulations may be cited as the Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2025.

Amendment of regulation 6 of the Banks and Trust Companies (Licence Applications and Fees) Regulations (2021 Revision) - fees payable for renewal of licence The Banks and Trust Companies (Licence Applications and Fees) Regulations (2021 Revision) are amended in regulation 6 as follows — (a) by deleting paragraph (a) and substituting the following paragraphs —

(aa) The calculation of the assets for the determination of the relevant fee for each asset category under paragraph (a) is based on the average of total assets at the end of each of the four calendar quarters.”; and

“(a) an “A” licence alone, granted without restrictions as to the carrying on of banking business within the Islands depending on the asset category listed in column 1 with the fee for the respective year listed in columns 2 to 5 —

Column 1 Column 2 Column 3 Column 4 Column 5 Asset Category

(i) Licensees not more than

2029 and thereafter

(ii) Licensees but not more than US$3.0 billion CI$1,200,000

(iii) Licensees $US3.0 billion

CI$2,250,000;

(b) by deleting paragraph (d) and substituting the following paragraphs —

“(d) an “A” licence and a Trust licence granted without restrictions as to the carrying on of banking business within the Islands depending on the asset category listed in column 1 with the fee for the respective year listed in columns 2 to 5 —

Column 1 Column 2 Column 3 Column 4 Column 5 Asset Category

(i) Licensees not more than

2029 and thereafter

(ii) Licensees but not more than US$3.0 billion CI$1,200,000

(iii) Licensees $US3.0 billion

CI$2,250,000;

(da) The calculation of the assets for the determination of the relevant fee for each asset category under paragraph (d) is based on the average of total assets at the end of each of the four calendar quarters.”. Made in Cabinet the 17th day of December, 2025. Kim Bullings Clerk of the Cabinet