The Financial Services Act 1986 (Overseas Investment Exchanges and Overseas Clearing Houses) (Periodical Fees) Regulations 1987

• Citation: S.I. 1987/2143
• Sections: 2

Section 1 Citation and commencement

These Regulations may be cited as the Financial Services Act 1986 (Overseas Investment Exchanges and Overseas Clearing Houses) (Periodical Fees) Regulations 1987 and shall come into force on 8th January 1988.

Section 2 Prescription of periodical fees

(1) An overseas investment exchange and an overseas clearing house shall pay to the Secretary of State a periodical fee of £5,000.

(2) The first periodical fee payable by an overseas investment exchange or an overseas clearing house shall be payable on the date on which it becomes an overseas investment exchange or an overseas clearing house as the case may be and each subsequent periodical fee shall be payable at the end of each successive period of twelve months.