Article 4
Annual supervisory fees
The administrator of one or more critical benchmarks shall pay an annual supervisory fee:
of EUR 250 000 , in cases where ESMA has to chair a college of supervisors pursuant to article 46 of Regulation (EU) 2016/1011;
of EUR 200 000 , in cases where ESMA does not have to chair a college of supervisors pursuant to article 46 of Regulation (EU) 2016/1011.
A benchmark administrator established in a third country recognised by ESMA shall pay an annual supervisory fee calculated as follows:
the annual supervisory fee for a given year (n) shall be the total annual fee for recognised third country administrators adjusted by the turnover coefficient;
the total annual fee for recognised third country administrators for a given year (n) shall be equal to the ESMA supervisory budget for Regulation (EU) 2016/1011 for that year (n) minus the annual supervisory fees to be paid to ESMA by critical benchmark administrators for the year (n);
for each third country administrator, the turnover coefficient shall be its share of the applicable turnover in the aggregate turnover generated by all recognised third country administrators
the minimum annual supervisory fee for recognised third country administrators shall be EUR 20 000 , including when the applicable turnover of the recognised third country administrator is equal to zero.