CoBO Fees Notice 2024

Summary

This notice sets out the fees payable under the Control of Borrowing (Jersey) Order 1958 in relation to collective investment funds, effective for the period 1 July 2024 to 31 December 2024. It has since been superseded by a later fees notice but is retained here for historical reference. It covers application fees, annual fees for Jersey Private Funds (JPFs), and late payment and late filing penalties.

• Initial JPF CoBO consent: Application fee of £1,813 payable to the JFSC's Authorisation team.
• Other CoBO consent applications: Fee of £673 for applications not covered by the JPF fee above.
• Jersey unit trust (non-fund) initial consent: Fee of £557 payable to the Jersey Companies Registry.
• Non-domiciled structure (non-fund) initial consent: Fee of £557 payable to the Jersey Companies Registry.
• Amended CoBO consent: Fee of £281 where the original consent was issued under the non-fund provisions above.
• JPF annual fee: £723 per year, pro-rated, due on 1 July and payable no later than 31 July by the JPF's governing body or its designated service provider (DSP).
• Late payment of JPF annual fee: An additional 5% of the unpaid principal is charged the day after the due date and again on the first day of each subsequent month.
• Late filing of JPF annual compliance return: The DSP is liable for a £100 fee the day after the return falls due, plus a further £100 on the first day of each month it remains unfiled, unless the JFSC has agreed in writing to a late filing.

These fees apply specifically to Jersey Private Funds, other structures obtaining consent under CoBO, and the designated service providers responsible for filing JPF returns on their behalf.

Key obligations

• Pay a £1,813 fee when applying to the JFSC's Authorisation team for an initial JPF CoBO consent.
• Pay a £673 fee for CoBO consent applications not covered by the JPF initial consent fee.
• Pay a £557 fee when applying to the Jersey Companies Registry for an initial CoBO consent as a Jersey unit trust (non-fund).
• Pay a £557 fee when applying to the Jersey Companies Registry for an initial CoBO consent as a non-domiciled structure (non-fund).
• Pay a £281 fee when applying for an amended CoBO consent where the original was issued under the non-fund provisions.
• Pay the JPF annual fee of £723 (pro-rated) no later than 31 July each year, payable by the JPF's governing body or its DSP.
• Where the JPF annual fee is unpaid by 31 July, an additional 5% late payment fee applies on the day after that date and on the first day of each subsequent month.
• DSPs must file or deliver the JPF Return by its due date or pay a £100 late filing fee, plus a further £100 on the first day of each month it remains unfiled, unless the JFSC has agreed in writing to accept a late filing.

Applies to

Jersey Private Funds (JPFs), designated service providers (DSPs), Jersey unit trusts (non-fund), non-domiciled structures (non-fund), collective investment funds

Deadlines

• 1 July 2024: Commencement date from which the fees in this notice are effective.
• 31 December 2024: End of the period for which the fees in this notice apply.
• 1 July in each relevant year: Date on which the JPF annual fee becomes payable.
• 31 July in each relevant year: Deadline by which the JPF annual fee must be paid before late payment fees apply.
• day after the JPF annual fee due date, and first day of each subsequent month: Additional 5% late payment fee applied to unpaid JPF annual fee.
• day after the JPF Return due date, and first day of each subsequent month: £100 late filing fee applied to a DSP that has not filed or delivered the JPF Return.

Related documents

• CoBO Fees Notice 2025 replaces this document