E-12.000001, r. 2 - Regulation respecting fees and tariffs payable under the Money-Services Businesses Act

Updated to 1 September 2012

This document has official status.

chapter E-12.000001, r. 2

Regulation respecting fees and tariffs payable under the Money-Services Businesses Act

Money-Services Businesses Act

(R.S.Q., E-12.000001, ss. 60, par. 1 and 62).

DIVISION I FEES PAYABLE

1. The fees payable by a money-services business for a licence application filed with the Autorité des marchés financiers (the “Authority”) for each class of licence are:

(1)  $600 for currency exchange;

(2)  $600 for funds transfer;

(3)  $600 for the issue or redemption of traveller’s cheques, money orders or bank drafts;

(4)  $600 for cheque cashing;

(5)  $200 for the operation of each automated teller machine.

O.C. 152-2012, s. 1.

2. Fees are also payable for a licence application in the amount of $112 for each person covered by the security clearance report issued under section 8 of the Money-Services Businesses Act (chapter E-12.000001).

O.C. 152-2012, s. 2.

3. The money-services business must, by March 31 of each year, pay to the Authority the fees prescribed under section 1 with respect to each class of licence, as applicable.

O.C. 152-2012, s. 3.

DIVISION II TARIFFS PAYABLE

4. The charges payable with respect to the issue of a new security clearance report are $112 for each person or entity referred to in section 27 of the Act.

O.C. 152-2012, s. 4.

5. The costs payable with respect to the preparation of an inspection, the inspection itself and the follow-up on the recommendations are $86 per hour per inspector.

Such costs are payable only after the fourth completed hour and are payable within 30 days from the date of the statement of fees.

O.C. 152-2012, s. 5.

6. The costs incurred in connection with an investigation pursuant to section 56 of the Act are $86 per hour per investigator.

O.C. 152-2012, s. 6.

7. The fees, charges and costs prescribed under this Regulation are not refundable.

O.C. 152-2012, s. 7.

8. The fees, charges and costs payable are adjusted annually on 1 January in accordance with the rate of increase of the general consumer price index for Canada for the period ending on 30 September of the preceding year, as determined by Statistics Canada. They are rounded down to the nearest dollar if they include a fraction of a dollar lower than $0.50 and rounded up to the nearest dollar if they include a fraction of a dollar that is equal to or greater than $0.50.

The result of the annual indexation is published annually in the Gazette officielle du Québec and in the Bulletin of the Authority.

O.C. 152-2012, s. 8.

9. (Omitted).

O.C. 152-2012, s. 9.

REFERENCES

O.C. 152-2012, 2012 G.O. 2, 671