The Finance Commission ACT Chapter 272 Revised Edition 2011 (RFinA) gives Finance Commission authority to do all things necessary for the carrying out of its duties.
These include the granting of licences for the carrying on of international financial services required by existing licenced service providers offering international financial services in or from within Ara Tapu.
Under the RFinA, the Licensing and Authorisations Department is responsible for the day-to-day supervision, and conclusion of existing licensed service providers offering international financial services in or from within Ara Tapu; and prospective market participants who require a licence from the Commission to conduct any of the Finance Commission.
Therefore, in exercising an effective regime to providing any of the licensing services/activities, the Commission has established a technical licensing framework; which set outs requirements and minimal standards that must always be adhered to by prospective market participants/applicants as well as existing licensed service providers when applying for any of the services/activites that may fall under the purview of the Licensing and Authorisations Division.
The following is the schedule of fees paid in accordance with the Third Schedule of Finance Commission Act, Chapter 272 Revised Edition 2011.