Low-materiality Fees Regulations

Marginal note:Criteria

• 2 (1) For the purpose of subsection 22(1) of the Act, the following fees are considered to be low-materiality fees:

  • (a) any fee that is less than $51;

  • (b) any fee that is $51 or more but less than $151 if

    • (i) the three most recent reports tabled in respect of the fee before the first day of the current fiscal year set out no more than $500,000 of annual revenue received from that fee,

    • (ii) the fee has been adjusted since the tabling of the most recent report in respect of it and the three most recent reports tabled in respect of it set out no more than $500,000 of annual revenue received from that fee,

    • (iii) there have not been three reports in respect of the fee and the fee has, at no time since the day on which these Regulations came into force, been more than $151 or referred to in Schedule 2, or

    • (iv) the fee was previously considered a low-materiality fee in accordance with paragraph (a), subparagraphs (i) to (iii) or paragraph (c) and has not since ceased to be a low-materiality fee in accordance with section 3; and

  • (c) the fees referred to in Schedule 1.

• Marginal note:Exceptions

  (2) Paragraphs (1)(a) and (b) do not apply to

  • (a) any fee the amount of which is determined by a formula; and

  • (b) the fees referred to in Schedule 2.