14Partial refund of licence fee on surrender of Tasmanian gaming licence

14 Partial refund of licence fee on surrender of Tasmanian gaming licence

For section 76ZI(2A) of the Act, the proportional refund of the relevant licence fee is to be calculated in accordance with the following formula:

where –

A is the amount to be calculated;

LF is the licence fee payable for the full financial year in which the licence is surrendered;

D1 is the number of days in that financial year;

D2 is the number of days remaining in that financial year after the day on which the licence is surrendered.