2Capped fees

2 Capped fees

(1) This clause applies in relation to a fee described as “(capped)” in an item of Table 2.1.

Note: This clause does not apply in relation to a fee described as “(fixed)” in an item of Table 2.1. The full amount of a fixed fee must be paid at the time specified in the table.

(2) The amount of the fee is the lesser of: (a) the amount specified in the item; and (b) the total amount of the expenses incurred by the regulator in performing or exercising the function or power, or dealing with the application, mentioned in the item. (3) The fee is: (a) due when the regulator issues an invoice for the fee to the person who requested the performance or exercise of the function or power, or made the application; and (b) payable by that person; and (c) payable in accordance with the requirements of the invoice. (4) Subclause (3) has effect despite any other provision of this instrument that requires the fee to be paid in a particular way. (5) Where an amount of the fee is owed by a person, the regulator may decline to perform the function or exercise the power to which the fee relates until the amount is paid.

45 Schedule 5

Repeal the Schedule.