51Refund of fees for warehouse licences

#### 51 Refund of fees for warehouse licences (1) In this regulation: > instalment period means: (a) the period of 3 months commencing on the day on which an instalment is to be paid under paragraph 50B(2)(b); or (b) a period of time commencing on the day on which an instalment is to be paid under subregulation 50B(3). (2) For subsection 85(4) of the Act, this regulation explains how to calculate a refund if a warehouse licence is cancelled. (3) Use the table if: (a) the licence fee was paid in instalments; and (b) an instalment relates to the instalment period during which the licence was cancelled. | Step 1 | Identify the number of complete days in the instalment period after the licence was cancelled. | | ------ | --------------------------------------------------------------------------------------------------------------------------------------------------- | | Step 2 | Identify the number of days to which the instalment relates. | | Step 3 | Multiply the amount of the instalment by the result of step 1 and divide the result by the result of step 2.The result is the amount of the refund. | (4) Use the table if the licence fee was paid in full for a year or a part of a year. | Step 1 | Identify the number of complete days in the year after the licence was cancelled. | | ------ | ---------------------------------------------------------------------------------------------------------------------------------------------------- | | Step 2 | Identify the number of days to which the payment relates. | | Step 3 | Multiply the amount of the licence fee by the result of step 1 and divide the result by the result of step 2.The result is the amount of the refund. |