71Refund of annual charge

71 Refund of annual charge

(1) This section applies to the annual charge for a facility licence or a source licence for a financial year if: (a) either: (i) the whole of the annual charge for the licence for the year has been paid; or (ii) if section 70 applies in relation to the licence—the whole of the annual charge for the licence for the year, as adjusted under that section, has been paid; and (b) the licence is suspended, cancelled or surrendered before the end of the year. (2) The CEO may decide to refund to the holder of the licence part of the amount of the annual charge that has been paid for the licence for the year. (3) If the CEO decides to refund part of the amount of the annual charge, the amount of the refund is: Start formula open bracket Number of calendar months in the financial year for which annual charge was paid minus Number of calendar months for all or part of which the licence was held and in force in the financial year close bracket times start fraction Amount of annual charge for the licence prescribed by the Licence Charges Regulations over 12 end fraction end formula