Transitional provision

Any person who, at the date of the coming into force of this Act, is carrying on any business or engaged in any activity relating in any respect, directly or indirectly to mutual funds in or from within Belize, shall within three months or such longer period as may be granted by the Minister from such date of coming into force, comply with the provisions of this Act. 41 SCHEDULE 1 MUTUAL FUNDS ACT Application for Registration of a Public Fund (Sections 9 (2) (a) and 41 (a)) 1. Applicant. State name and address of the fund. 2. Constitution. (a) State the legal form of the fund, (i) company; (ii) partnership; or (iii) unit trust; (b) State the name of the country or jurisdiction where the fund is constituted; (c) State the title of the law under which the fund is constituted. 3. Officers. (a) State name, address, place of birth and citizenship of each of the following officers of the fund, (i) directors; (ii) general partners; or 42 Mutual Funds (iii) trustees; (b) State educational and professional qualifications of each of the officers mentioned in sub- paragraph (a) above; (c) Give details of business, occupation or employment of each of the officers mentioned in sub-paragraph (a) above. 4. References. Give two personal references, a bank reference and, where it is the practice to make one available in the relevant jurisdiction, a police clearance certificate for each of the officers mentioned in paragraph 3 5. Functionaries. State names, addresses and business activities of each of the fund’s, (a) managers; (b) administrators; (c) investment advisers; and (d) custodians. 6. Prior Registration. State if the fund is now or has been registered, licensed, recognised or authorized under any law or regulations relating to mutual funds, collective investment schemes/funds or securities in any other country or jurisdiction. Mutual Funds 43 7. Refusal or Disciplinary Measure. Has the fund, any of its officers mentioned in paragraph 3 (a), managers, administrators, investment advisers or custodian been the subject of, (a) a refusal of an application for registration, licence, recognition or authorization; or (b) a suspension, cancellation or revocation of registration, licence, recognition or authorisation, by any authority in any country or jurisdiction? Give details and reasons. 8. Civil Proceedings. Has a judgment been rendered or any suit, action or proceedings pending against any officer of the fund or any of its functionaries listed in paragraph 5 above, in civil proceedings in any court or tribunal in any country or jurisdiction which has been or is based in whole or in part on fraud, theft, deceit, misrepresentation or similar conduct? 9. Offences. Has any of the officers mentioned in paragraph 3 (a) above or any of the functionaries listed in paragraph 5 above been or is being charged, indicted or convicted in any country or jurisdiction for an offence in any criminal or civil proceedings relating to fraud or theft arising out of dealing in mutual funds, collective investment schemes/ funds or securities? 10. Bankruptcy. Has any of the officers mentioned in paragraph 3 (a) above or any of the functionaries listed in paragraph 5 above been, 44 Mutual Funds (a) declared bankrupt or been party to bankruptcy or insolvency proceedings; or (b) subject to proceedings relating to winding-up, dissolution or creditors’ arrangement; or (c) subject to proceedings relating to receivership or creditor’s compromise, in any country or jurisdiction? Mutual Funds 45 AFFIDAVIT I,...............................................................................................of .................................................................................... (address), in my capacity as director/general partner/trustee,* acting for and on behalf of .......................................................................... the applicant public mutual fund herein, do depose and say that I have read and understood the questions in the application submitted herewith and hereby certify under oath that the answers and statements provided in respect of the application are true, correct and complete to the best of my knowledge, information and belief. SWORN before me -------------- Name and signature of deponent ...................................................................... Commissioner of Oaths Justice of the Peace ...................................................................... in the city of ...........................................this ....................................................................... ..................... day of .........................., . * Delete as appropriate. 46 Mutual Funds SCHEDULE 2 MUTUAL FUNDS ACT Fees (Sections 3 (3), 9(2)(b)(iii), 10(2)(b) and (4)(b),19(1) (b) and (2)(a), 23(2)(a), 28(1) and (2)) PART I Fee for issuing a Certificate of Compliance under section 3(3) of the Act. The fee for issuing a Certificate of Compliance pursuant to section 3 (3) ............................ $25.00 PART II Application fees under sections 9(2)(b)(iii), 10(2)(b), 19(1) and (2)(a), 23(2)(a)of the Act. The fee for, (a) an application for registration under section 9 (2) (b) (iii) is .......................$500.00 (b) an application for recognition under sections 19 (1) and (2) is..............................$350.00 (c) an application for a licence under section 23 (2) (a) is .....................................$250.00 (d) an application for consent to be registered under section 10 is ......................$100.00 Mutual Funds 47 PART III Annual fees under section 28 (1) and (2) of the Act. (A) Fee payable for the year in which registration, recognition or licence is granted pursuant to section 28 (1) of the Act, (1) Where registration, recognition or licence is granted on or before the 30th day of June in any year, the fee payable for that year is, (a) $500.00 by a registered public fund; (b) $350.00 by a recognised private or professional fund; (c) $500.00 by a person licensed as manager or administrator; and (d) $1,000.00 by a person licensed as both manager and administrator. (2) Where registration, recognition or licence is granted on or after the 1st day of July in any year, the fee payable for that year is, (a) $250.00 by a registered public fund; (b) $175.00 by a recognised private or professional fund; (c) $250.00 by a person licensed as manager or administrator; and (d) $500.00 by a person licensed as both manager and administrator. 48 Mutual Funds (B) The annual fee payable pursuant to section 28 (2) of the Act is, (a) $500.00 by a registered public fund; (b) $350.00 by a registered or recognised private or professional fund; (c) $500.00 by a person licensed as manager or administrator; and (d) $1,000.00 by a person licensed as both manager and administrator.