INTERNATIONAL BUSINESS COMPANIES ACT, 1994

PART  X

FEES AND PENALTIES

102.(1) There shall be paid to the Registrar in respect of the matters specified in Part I of the Schedule, the fees so specified.

(2) Notwithstanding any other written law, all fees, licence fees and penalties due under this Act shall be paid in United States Dollars.

103.  A company the name of which is on the Register on 31st December in any year shall, before the date of the relevant anniversary of its incorporation, pay to the Registrar an annual licence fee specified in Part II of the Schedule.

104.  Any penalty incurred under this Act shall be paid to the Registrar.

105.(1) Any registration or other specified fee, licence fee or penalty payable under this Act that remains unpaid for 30 days immediately following the date on which demand for payment is made by the Registrar is, notwithstanding any other written law, recoverable at the instance of the Attorney-General before a magistrate in civil proceedings as a debt due to the Republic notwithstanding the amount sought to be recovered.

(2) In any proceedings under subsection (1), a certificate signed by the Registrar stating the amount of fee or penalty or both which is due and owing shall be prima facie evidence that the amount is due and owing without proof of the signature.

106.  A company incorporated under this Act continues to be liable for all registration or other specified  fees, licence fees and penalties payable under this Act notwithstanding the name of the company has been struck off the Register and all those fees, licence fees and penalties have priority to all other claims against the assets of the company.

107.  All registration and other specified fees, licence fees and penalties paid under this Act shall be paid by the Registrar into the Consolidated Fund.

108.  The Registrar may refuse to take action required of him under this Act for which a fee is prescribed until all fees have been paid.