RCB 5
Fees
RCB 5.1
Application and purpose
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Application
RCB 5.1.1
See Notes
This chapter
applies to issuers in
relation to regulated
covered bonds.
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Purpose
RCB 5.1.2
See Notes
The purpose of this chapter is to prescribe
the fees payable under RCB.
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RCB 5.2
Fees to be paid
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Introduction
RCB 5.2.1
See Notes
This chapter provides for an initial
fee for registration of a regulated
covered bond and subsequent annual fees.
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RCB 5.2.2
See Notes
The registration fee is for the FSA's work in dealing
with an issuer's application
for registration of a regulated
covered bond.
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RCB 5.2.3
See Notes
The annual fee is a fee for the FSA's ongoing costs in
administering the regulated
covered bond regime. Like the registration fee, it is charged
to issuers in
respect of their participation in the regime.
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RCB 5.2.4
See Notes
Fees are not refundable.
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Registration Fees
RCB 5.2.5
See Notes
An issuer applying
for registration of a regulated
covered bond must pay the FSA a
registration fee of £25,000 in full.
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Annual Fees
RCB 5.2.6
See Notes
- (1) An issuer must pay the FSA a fee of £20,000 for each financial year (1 April to 31 March) in which the issuer is on the register of issuers as at 31 March of the previous financial year.
- (2) For the first year in which the issuer becomes registered, the issuer must pay the fee set out in the applicable row of the table at RCB 5.2.7 R of the annual fee.
- (3) Fees must be paid in full within 30 days of the date of the invoice.
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RCB 5.2.7
See Notes
Table of annual fee for first year:
| Registration date of issuer | Fee |
| 1 April to 30 June inclusive | £20,000 |
| 1 July to 30 September inclusive | £15,000 |
| 1 October to 31 December inclusive | £10,000 |
| 1 January to 31 March inclusive | £5,000 |
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Method of payment
RCB 5.2.8
See Notes
The issuer must
pay the fees payable under this chapter by bankers draft, cheque, or by credit
transfer.
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