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).