Fees for costs and expenditures, submission to Board
 10.13 (1) The Financial Services Manager shall submit to the Board a proposed fee for costs and expenditures, (a) no later than February 28, 2019, in respect of costs and expenditures paid during 2018; and (b) no later than February 28 in each subsequent year, in respect of costs and expenditures paid during the previous calendar year. O. Reg. 415/17, s. 4. (2) The fee may be established to recover the amount of costs and expenditures incurred by the Financial Services Manager in relation to prescribed matters. O. Reg. 415/17, s. 4. (3) The costs and expenditures referred to in subsection (2) include but are not limited to costs and expenditures in respect of the following: 1. Underwriters or selling agents for funding obligations. 2. Banking fees, including but not limited to structuring fees or work fees. 3. Fees of issuing and paying agents for funding obligations. 4. Fees of trustees. 5. Fees incurred in the preparation of financial statements, financial reports, compliance certificates and tax returns. 6. Fees of legal counsel. 7. Rating agency fees. 8. Filing or registration fees. 9. Subject to subsection (4), direct costs of the Financial Services Manager for employees whose work for the Financial Services Manager consists exclusively of the provision of services to financing entities in relation to prescribed matters. 10. Costs and expenditures incurred on behalf of any financing entity in connection with the Financial Services Manager’s duties under the Act in relation to the financing entity. 11. Costs and expenditures incurred in relation to a management agreement between the Financial Services Manager and any financing entity, where the agreement provides for the reimbursement of the costs and expenditures. O. Reg. 415/17, s. 4. (4) If the costs referred to in paragraph 9 of subsection (3) are paid after March 31, 2019, they are recoverable for a year only if the Board, upon reviewing the submission, makes the following determination: 1. A majority of the market comparable fees used by the Board for the purposes of subsection 10.9 (3) for a fiscal year that begins in the calendar year to which the submission under this section relates are charged by full-service managers of funds who, in addition to charging those fees, also recover costs that are materially consistent with and similar to the costs referred to in paragraph 9 of subsection (3) that are paid after March 31, 2019. O. Reg. 415/17, s. 4. (5) For the purposes of subsection (4), the Board shall consider whether the costs paid after March 31, 2019 are incurred in relation to the establishment, management and administration of the funds to which the market comparable fees relate. O. Reg. 415/17, s. 4. (6) For the purposes of subsection (4), a fiscal year begins on April 1 in a year and ends on March 31 in the following year. O. Reg. 415/17, s. 4. (7) The submission shall include written confirmation from the Financial Services Manager’s external auditor or another external auditor of the following: 1. That the amounts of the costs and expenditures that the Financial Services Manager seeks to recover through fees, as set out in the submission, are accurate. 2. That the amounts of the costs and expenditures, as set out in the submission, were incurred by the Financial Services Manager. 3. That, except in the case of amounts referred to in paragraph 9 of subsection (3), the amounts were paid to third parties. O. Reg. 415/17, s. 4.