Fees Orders and Regulations 2023

Contact

Andrew Kniveton

(Senior Policy Adviser)

Policy & Authorisations Division

+44 1624 689304

Feedback updated 3 Jan 2023

We asked

We asked for views on the draft secondary legislation to implement the Authority’s new fee structure as part of plans to move to a predominantly industry-funded model from 1 April 2023.

You said

We received 12 responses to the Consultation Paper. Overall, no major issues with the draft secondary legislation were raised. The majority of responses sought clarification around the application of fees for their particular businesses. Some responses queried certain aspects of the fee structure.

We did

We prepared a Consultation Response, which provides a summary of responses and corresponding changes to the fee structure along with changes to the draft Fees Orders and Regulations 2023 and the Funding Model document.
We plan to finalise the revised draft secondary legislation ready for laying before Tynwald for approval in the first quarter of 2023 for commencement on 1 April 2023.

Results updated 12 Jan 2023

Files:

CR23-01 Consultation Response Fees Orders and Regulations 2023 includes Appendix A, 666.6 KB (PDF document)
Appendix B - CR23-01 Fees Orders and Regulations 2023 - Funding Model, 949.8 KB (PDF document)
Appendix C - CR23-01 Fees Orders and Regulations 2023 - CIS(F)O23, 766.4 KB (PDF document)
Appendix D - CR23-01 Fees Orders and Regulations 2023 - DB(F)O23, 791.0 KB (PDF document)
Appendix E - CR23-01 Fees Orders and Regulations 2023 - FS(F)O23, 1.1 MB (PDF document)
Appendix F - CR23-01 Fees Orders and Regulations 2023 - I(F)R23, 1.1 MB (PDF document)
Appendix G - CR23-01 Fees Orders and Regulations 2023 - RSA(F)O23, 760.0 KB (PDF document)
Appendix H - CR23-01 Fees Orders and Regulations 2023 - RS14EAR23, 704.9 KB (PDF document)

Overview

Further to the related news release (Feedback sought on fees legislation) on 18 October 2022, the Isle of Man Financial Services Authority (‘the Authority’) has today issued a Consultation Paper on the Fees Orders and Regulations for 2023 (CP22-05).

Why your views matter

The consultation is relevant to all of the Authority’s stakeholders and fee payers.

What happens next

Following closure of the consultation period, the Authority will review the responses received and publish a Consultation Response document on the Authority’s website and the Isle of Man Government’s Consultation Hub.

Subject to any changes to the proposals that may be made as a result of responses received, it is intended that the draft legislation will be finalised for laying before Tynwald for approval in the first quarter of 2023 for commencement on 1 April 2023.

Areas

All Areas

Audiences

All residents

Interests

Finance
Economy