OpenLegislation

Regulation 64 Use of registration fees

Original text. Later amendments are not shown.

(1)

If the deposit management organisation charges registration fees only for the purposes of meeting any or all of the NEA costs, it must pay such amounts of the registration fees that it receives to the appropriate national enforcement authority for the purposes of meeting the relevant NEA costs.

(2)

If the deposit management organisation charges registration fees for the purposes of meeting any or all of the NEA costs and any or all of its own costs, the deposit management organisation—

(a)

must pay such amount of the registration fees that it receives as are necessary to meet the relevant NEA costs, and

(b)

if any amount remains, may use that amount to meet the costs of carrying out its functions under or in connection with the Scheme.

(3)

If the deposit management organisation charges registration fees only for the purposes of meeting any or all of its own costs, the deposit management organisation must use the registration fees that it receives for the purposes of meeting those costs.