The applicant is required to pay the fees and processing costs determined by the Takeover Board as invoiced, unless the case is processed free of charge. The grounds of the fees are decided by the Board of the Securities Market Association.

Processing fee

The processing fee must be paid to the Takeover Board when the case is taken up for review. The amount of the processing fee is EUR 1,000 The processing fee covers the costs of initiating the processing of the case. The processing fee is not refunded even if the applicant does not submit the application or withdraws the application at a later date. The processing fee is not charged for cases that are processed free of charge.

The processing fee includes a maximum of one hour of preliminary discussions of the content of the written application with the secretary, chair or member of the Board.

Statement fee

The applicant is charged a statement fee for the recommended decision, the amount of which is determined by the Takeover Board. The statement fee is invoiced after the processing of the case has ended. The amount of the statement fee is determined by the size of the target company and the scope of the case as follows:

Target companyLimitedStandardExtensive
Large€4,000 €10,000€25,000

Exceptions to the statement fee are possible by decision of the Takeover Board. There must be a specific and justified reason for the exception.

Oral presentation of a case

The applicant may request the Takeover Board for the option to present its case orally to the Board. The oral presentation will be taken into account when determining the amount of the statement fee.

Free services

The following services are free of charge:

  • Secretariat’s responses to enquiries concerning the activities of the Takeover Board.
  • General advice provided by the secretariat on submitting an application that does not involve the processing of confidential information, inside information or other deliverables.
  • Processing of requests for statements on draft legislation or other regulations under preparation.
  • Other matters which the Takeover Board decides to process free of charge.


The above fees cover the costs normally incurred by the Takeover Board in processing a case. The applicant must pay any extraordinary expenses incurred by the processing as invoiced. Such expenses include extracts of registers, requests for documents, translations and requests for accounts, clarifications or payments. The expenses incurred in processing a case will be invoiced after the case has been decided.

Invoicing and payments

The processing fee must be paid to the Takeover Board when the case is taken up for review. The statement fee and the costs of processing the case are usually invoiced after the processing has ended or as soon as possible thereafter.

The applicant may request an invoice for the payment of the processing fee from the secretariat of the Board. In this case, payment is made according to the invoice provided. The applicant may also pay the processing fee in advance without an invoice, for example in order to speed up the processing of the case.

Payment details of the processing fee:

Payee: Securities Market Association
Account number: FI08 1745 3000 0297 87 (NDEAFIHH)
Bank transfer message: Takeover Board processing fee

The processing fee must be paid in a single instalment to the above account. No information about the case or its parties should be entered in the message field. No reference number is required for the payment.

More information

Ville Kajala

Ville Kajala

Senior Advisor, Finland Chamber of Commerce

+358 50 376 1460