Regulation 103K

There shall be paid to the Comptroller the fee specified in the Schedule for any licence issued or renewed under regulation 103B.

For any licence issued during any year, the fee shall be calculated at the rate of one-twelfth of the appropriate annual fee specified in the Schedule for each month or part thereof for which the licence is valid.

The Comptroller may, in his discretion, allow a refund of one-twelfth of the fee specified in the Schedule for each complete month in respect of which the licence would have remained valid had it not been revoked or withdrawn.