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Trustee Companies Act 1981-82 - Trustee Companies Amendment Regulations 1997

COOK ISLANDS


TRUSTEE COMPANIES AMENDMENT REGULATIONS 1997


1997/07


A. P. SHORT, Queen's Representative


ORDER IN EXECUTIVE COUNCIL


At Avarua, Rarotonga, this 13th day of May 1997


Present:


HIS EXCELLENCY THE QUEEN'S REPRESENTATIVE IN EXECUTIVE COUNCIL


PURSUANT to Section 32(1) (b) of the Trustee Companies Act 1981-82, His Excellency the Queen's Representative, acting by and with the advice and consent of the Executive Council, hereby makes the following regulations.


ANALYSIS


1. Title and commencement
2. Fees

Schedule


----------------------------


REGULATIONS


1. Title and commencement - (1) These Regulations shall be cited as the Trustee Companies Amendment Regulations 1997 and shall be read together with and deemed part of the Trustee Companies Regulations 1982 (hereinafter referred to as "the principal Regulations").


(2) These Regulations shall come into force on the 1st June 1997.


2. Fees - The principal Regulations are amended, by deleting the Schedule, and substituting the schedule to these regulations.


P. Puna
Clerk of the Executive Council


_________


These Regulations are administered by the Monetary Board


SCHEDULE


Section of the Act in which provision for fee made
Matter for which payable
Amount



Section 5
Application for registration Carry on business as a trustee company
$NZ5,000
Section 6
Registration
$NZ20,000 for the first year of registration $NZ5,000 for each subsequent year of registration
Section 32
(1) Services in relation to providing a company incorporated under or registered as a foreign company under the International Companies Act 1981 -82 a registered office, resident director and resident secretary or any part thereof for each year following incorporation
$US1,000

(2) Services in relation to the application for a licence under the Offshore Banking Act 1981 -82.
Not less than $US2,000

Services in relation to the application for a licence under the Offshore Insurance Act 1981 -82
Not less than $US1,000

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