• GENE Part 10.2 GENE Part 10.2 General provisions

    Editorial changes (as from 1st January 2016).

    • GENE 10.2.1 Application not submitted until fee paid

      Where a fee is payable for any application to the Regulatory Authority, the application may not be regarded as submitted until the fee has been paid in full.

      Amended by QFCRA RM/2015-3 (as from 1st January 2016).

    • GENE 10.2.2 GENE 10.2.2 Increase of sum due if fee not paid

      Where an annual fee or supplementary fee in relation to ongoing supervision is due from an authorised firm under a provision of these rules, it must be paid by the date upon which it falls due. Should an authorised firm fail to pay by the due date then, without limiting the right of the Regulatory Authority to take any other action, the sum due will be increased by 1% for each month, or part of a month, that it remains outstanding beyond the due date.

      Amended by QFCRA RM/2015-3 and Editorial changes (as from 1st January 2016).

      • GENE 10.2.2 Guidance

        If a fee is not paid by the date on which it becomes due, the authorised firm is in breach of a rule and the Regulatory Authority is entitled to take action including, but not limited to, taking steps to withdraw authorisation to conduct 1 or more regulated activities.

        Editorial changes (as from 1st January 2016).

    • GENE 10.2.3 Regulatory Authority's power to reduce or waive fees

      The Regulatory Authority may reduce, waive or refund all or part of any fee if, having considered the circumstances of a particular case, it deems it would be equitable to do so.

      Amended by QFCRA RM/2015-3 (as from 1st January 2016).