48Application fee, &c.

48 Application fee, &c. (1) An application made under section 47 shall be accompanied by: (a) the prescribed fee; and (b) a deposit: (i) if the applicant has specified an amount that he would be prepared to pay in respect of the grant of a licence to him on the application – of 10% of that amount; or (ii) if the Minister has, in the notice by which the applications were invited, stated an amount that the applicant will be required to pay in respect of the grant of a licence – of 10% of that amount. (2) Where a licence is not granted on the application, the amount of the deposit shall, subject to subsection (3), be refunded to the (3) Where an applicant who has been served with a notice under section 49(1) does not request the Minister, under section 49(6), to grant to him the licence referred to in the notice, the deposit shall not, unless the Minister otherwise determines, be refunded to the