48Application fee etc.

#### 48 Application fee etc. (1) An application under section 47 shall be accompanied by: (a) the prescribed fee; and (b) a deposit of 10% of the amount that the applicant has specified as the amount that the applicant would be prepared to pay in respect of the grant of a licence to the applicant on the application. (2) Where a licence is not granted on the application, the amount of the deposit shall, subject to subsection (3), be refunded to the applicant. (3) Where an applicant on whom there has been served an instrument under subsection 49(1) does not, under subsection 49(6), request the grant to him of the licence referred to in the instrument, the deposit shall not be refunded to the applicant.