The Companies Act 1989 (Recognised Supervisory Bodies) (Periodical Fees) Regulations 1993

• Citation: S.I. 1993/1881
• Sections: 3

Section 1 Citation and commencement

These Regulations may be cited as the Companies Act 1989 (Recognised Supervisory Bodies) (Periodical Fees) Regulations 1993 and shall come into force on 16th August 1993.

Section 2 Prescription of periodical fees

(1) On 1st October 1993 a recognised supervisory body shall pay to the Secretary of State a periodical fee of £440 in respect of the period from 16th August 1993 to 30th September 1993.

(2) On 1st October 1993 and 1st October of each succeeding year a recognised supervisory body shall pay to the Secretary of State a periodical fee of £3,500.

Section 3 New recognised supervisory bodies

(1) The first periodical fee payable by a body which becomes a recognised supervisory body after the commencement of these Regulations shall be payable on the date on which it becomes a recognised supervisory body and each subsequent periodical fee shall be payable in accordance with regulation 2(2).

(2) The amount of the first periodical fee payable in accordance with paragraph (1) shall be equal to

where

A is the number of days from the date when the body becomes a recognised supervisory body to the following 30th September, inclusive of both dates.

(3) Where the amount of the periodical fee calculated in accordance with paragraph (2) is not a multiple of £10 it shall be rounded down to the next multiple of £10.