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FEES 3.8.2

A Fund Manager with an existing Financial Services Permission for the Regulated Activity of Managing a Collective Investment Fund restricted to Venture Capital Funds and which applies to amend the scope of that existing Financial Services Permission by adding one or both of the Regulated Activities of Advising on Investments or Credit or Arranging Deals in Investments, where those activities are restricted to co-investments in assets in which a Venture Capital Fund managed by the Authorised Person has invested or will invest, is not required to pay:

(a) the additional authorisation fee described in Rule 3.8.1; and
(b) the additional annual supervision fee described in Rule 2.2.2(b).