s 99A Annual fees payable by exempt person and certain representatives
99A.—(1) Every exempt person and every representative of a person exempted under section 99(1)(f), (g) or (h) must pay to the Authority such annual fee in respect of each regulated activity as may be prescribed and in such manner and on such date as may be specified by the Authority.[2/2009] (2) Any annual fee paid by an exempt person or a representative of a person exempted under section 99(1)(f), (g) or (h) to the Authority in respect of any regulated activity must not be refunded or remitted if —(a) in the case of the exempt person —(i) its exemption is withdrawn; (ii) it fails or ceases to carry on business in that regulated activity; or (iii) a section 101A prohibition order or an FSMA prohibition order has been made against it, during the period to which the annual fee relates; and [Act 18 of 2022 wef 31/07/2024] (b) in the case of a representative of a person exempted under section 99(1)(f), (g) or (h) —(i) the exemption of the exempt person is withdrawn; (ia) a section 101A prohibition order or an FSMA prohibition order has been made against the representative; or[Act 18 of 2022 wef 31/07/2024] (ii) the representative fails or ceases to act as a representative in respect of that regulated activity, during the period to which the annual fee relates. [2/2009] (3) Subject to subsection (2), the Authority may, where it considers appropriate, refund or remit the whole or part of any annual fee paid or payable to it. (4) Where an exempt person or a representative of a person exempted under section 99(1)(f), (g) or (h) fails to pay the fee by the date on which such fee is due, the Authority may impose a late payment fee of a prescribed amount for every day or part of a day that the payment is late and both fees are recoverable by the Authority as a judgment debt.[2/2009]