64Pro-rata calculation of fees

64 Pro-rata calculation of fees

(1)  In this regulation –

licensing period means a period of 12 months.

(2)  The applicable fee payable in respect of a licence issued for a part of a licensing period is to be calculated in accordance with the following formula:

[](/image/A x R over F.gif)

where –

A is the annual licence fee specified in Schedule 1 ;

R is the number of days for which the licence will be in effect during the licensing period;

F is the number of days in the licensing period.