Government Fees Amendment (No 2) Regulations 1998
GOVERNMENT FEES AMENDMENT (NO. 2) REGULATIONS
1998

1989 Revision 1

BR 55/1998

GOVERNMENT FEES ACT 1965

1965 : 103

GOVERNMENT FEES AMENDMENT (NO. 2) REGULATIONS
1998

In exercise of the powers conferred upon him by section 2(1) of
the Government Fees Act 1965, and every other power vested in him, the
Minister of Finance makes the following Regulations:

Citation and commencement
1 These Regulations may be cited as the Government Fees
Amendment (No. 2) Regulations 1998 and shall come into operation on 1
August 1998.

Amendment of Schedule to S.R. & O. 24/1976
2 (1) The Schedule to the Government Fees Regulations 1976 is
amended as follows.

(2) After Head 3 insert the following—

"Head 3A
Bermuda Monetary Authority Act 1969

On applying for approval for classification under the
Bermuda Monetary Authority (Collective Investment
Scheme Classification) Regulations 1998, pursuant to
section 29 of the Bermuda Monetary Authority Act
1969—

(a) for classification as a
Bermuda Institutional
Scheme $200.00

GOVERNMENT FEES AMENDMENT (NO. 2) REGULATIONS
1998

2 1989 Revision

(b) for classification as a
Bermuda Standard
Scheme $300.00

(c) for classification as a
Bermuda Recognised
Scheme $500.00";

(3) In Head 54—

(a) delete paragraph (1)(a); and

(b) insert after paragraph (1) the following

"(1A) Public Telecommunication Service licence—

(a) Class A Licence - in
respect of each twelve
month period

6% of total
revenue in

Bermuda or
20 % of profit
in Bermuda,
whichever is

the greater

(b) Class B Licence - in
respect of each twelve
month period

3% of total
revenue in

Bermuda

(c) Class C Licence -

(i) on granting of
licence; and

(ii) in respect of each
twelve month period
after the expiration of
the first twelve
month period

$2000

3% of total
revenue in

excess of
$100,000".