6Amount of depot licence charge

6 Amount of depot licence charge

Grant of licence (1) The amount of depot licence charge payable in respect of the grant of a depot licence is: (a) for the grant of a depot licence that comes into force on a 1 July—$4,000, or, if another amount not exceeding $6,000 is prescribed, that other amount; or (b) for the grant of a depot licence that comes into force on a day in a financial year other than 1 July—the amount worked out using the formula: Start formula Amount applicable under paragraph (a) times start fraction Number of days remaining in the financial year, starting on the day the licence comes into force over Number of days in the financial year end fraction end formula. Renewal of licence (2) Subject to subsection (3), the amount of depot licence charge payable in respect of the renewal of a depot licence is $4,000, or, if another amount not exceeding $6,000 is prescribed, that other amount. (3) If: (a) the depot concerned was licensed under Part IVA of the Customs Act during the whole of the period of 12 months ending on the last 31 March before the start of the financial year for which the renewal is sought; and (b) there were less than 300 transactions handled in relation to the depot during that 12‑month period; the amount of depot licence charge payable in respect of the renewal of the depot licence is $1,500, or, if another amount not exceeding $2,250 is prescribed, that other amount.