CHAPTER 31 / 55 · Paid
FS-7.1 Global Shared Services.
Financial Services Act section 77C and the Sixth Schedule. It is not headquarters administration.
Approx. 12 min with exercisesLaw cut-off: 20 September 2026Our approach
By the end of this chapter
- Describe the shop in one paragraph from the first file on the desk.
- Decide the promoter’s next asks: which stay on this letter, which need another paper.
- Keep neighbouring permissions off this desk.
- Cite the enabling section and treat the licence letter as the book.
FSC · FS-7.1 · Licence
1. ProcessHub Ltd’s shop
ProcessHub Ltd is the desk this chapter is for. Conduct global activities specified in the Sixth Schedule, under a section 77C licence.
The first file on the desk is this. ProcessHub Ltd will run accounts-payable and payroll processing for related foreign companies from Ebene. FS-7.1 / section 77C, after checking the Sixth Schedule description.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a licence under Financial Services Act 2007, Section 77C. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not Global Headquarters Administration (FS-1.8), not a management licence, and not a GBL.
Third, the assumptions stay in the file. Fictional processing company. Schedule match assumed for teaching. Cut-off 20 September 2026.
Financial Services Act 2007, Section 77C. See the register note · Open the published text ↗.
2. A week with A group finance-processing centre
Monday. The promoter walks in with “A group finance-processing centre.” Write the facts before anyone names a code: ProcessHub Ltd will run accounts-payable and payroll processing for related foreign companies from Ebene.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. Conduct global activities specified in the Sixth Schedule, under a section 77C licence.
Wednesday. They record what this permission is used for. FS-7.1 / section 77C, after checking the Sixth Schedule description.
Thursday. They write what the letter does not cover. Not FS-1.8 headquarters strategy staff, not an MC.
Friday. They lock the assumptions. Fictional processing company. Schedule match assumed for teaching. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what FS-7.1 is used for. The Act matters when ProcessHub Ltd applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
A group finance-processing centre
ProcessHub Ltd will run accounts-payable and payroll processing for related foreign companies from Ebene.
Why it fits. FS-7.1 / section 77C, after checking the Sixth Schedule description.
Different paper
The same promoter asks for Global Headquarters Administration (FS-1.8)
The slide says the FS-7.1 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not FS-1.8 headquarters strategy staff, not an MC.
Different paper
The same promoter asks for management licence
The slide says the FS-7.1 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not FS-1.8 headquarters strategy staff, not an MC.
| The promoter asks ProcessHub Ltd to… | This licence? | Why |
|---|---|---|
| A group finance-processing centre | Yes | FS-7.1 / section 77C, after checking the Sixth Schedule description. |
| The same promoter asks for Global Headquarters Administration (FS-1.8) | No | Keep the neighbouring paper off this desk. Not FS-1.8 headquarters strategy staff, not an MC. |
| The same promoter asks for management licence | No | Keep the neighbouring paper off this desk. Not FS-1.8 headquarters strategy staff, not an MC. |
4. Papers that sit beside this one
Not Global Headquarters Administration (FS-1.8), not a management licence, and not a GBL. Name the other desk when the work changes: Global Headquarters Administration (FS-1.8); a management licence; a GBL.
- Global Headquarters Administration (FS-1.8)
- a management licence
- a GBL
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
An entity whose main activity is the Sixth Schedule global activity. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing fee USD 1,000. Status at cut-off: Published category as at 1 July 2026.
Who may hold it. An entity whose main activity is the Sixth Schedule global activity. Read the Schedule, not the marketing phrase “shared services”.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. FS-7.1 criteria PDF on the directory. Section 77C plus Sixth Schedule is the legal test.
Rules, codes and circulars. CL20260107 for fees.
6. How to cite FS-7.1
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | FS-7.1 Global Shared Services |
| Legal nature | Licence |
| Enabling law | Financial Services Act 2007 · Section 77C |
| Fees as at 1 July 2026 | Processing fee USD 1,000. Fixed annual fee USD 2,500. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises. |
| Status at cut-off | Published category as at 1 July 2026. Section 77C, not section 14. |
The structured library card keeps the same coordinates for search. Open FS-7.1 in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteFinancial Services Act 2007 ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register note
PAUSE & REFLECT
Check your understanding.
Three questions to make the ideas stick. Your score is saved on this browser; this is a learning exercise, not a qualification.
Follow the sources.
Each title opens the published text. The register note records the edition used for this course.
- FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗ All published category codes, fees, forms and licensing-criteria columns; consolidation as at 1 July 2026 · Register note
- Financial Services Act 2007 ↗ Sections 2, 14, 14A, 16–18, 25, 33, 71A, 72, 77, 77A, 77B, 77C, 78, 79A; Second Schedule Parts I–III; Fifth Schedule · Register note
- FSC licensing and fees amendment rules 2026 ↗ Rule 3 and replacement First Schedule; rule 4 commencement · Register note
- FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗ 1 July 2026 fee review; annual-fee due date 30 September 2026; FSCOne alternative arrangements · Register note
- FSC rules and regulations directory ↗ Consolidated licensing and fees rules; sector-specific rules including Securities (Licensing) Rules and Family Office Rules · Register note
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