Regulation 114

Licences under sections 51, 63, 66, 82 and 83 of the Act shall be issued for the period 1st January to 31st December in each year or for such other period as the Director-General may approve.

Licences approved during any year shall be issued to cover the period from the date of issue or from a date, at the discretion of the Director-General, to the end of any quarter of a year or such other date as may be appropriate, and in such cases, the fee shall be calculated at a monthly rate of the fee prescribed in regulation 113 for each month or part of a month for which the licence is valid.

Any increase in the licence fee which may be prescribed during any year under regulation 113 after the issue of any licence shall be paid at a monthly rate of the fee in respect of each month or part of a month for the remainder of the period for which the licence is valid.