Application and licence fees

(1) The Central Bank may prescribe fees for each type or class of licence, or authorisation that the Central Bank has authority to grant or give under this Act and these fees may include– (a) a non-refundable application fee to cover the cost of processing the application or request for the licence or authorisation; (b) an initial licence or authorisation fee which shall be paid when the licence or authorisation is initially granted or given; and (c) an annual licence or authorisation fee which shall be paid when a licence or authorisation is renewed. (2) The fees shall be determined and applied in a fair, equitable and non-discriminatory manner. Infringements and Administrative Measures