Refund of licence fee paid under the SRC Act
29 Refund of licence fee paid under the SRC Act
If a CSL body has paid a licence fee in respect of the licence fee year in which the sale day occurs under section 107R of the SRC Act, the CSL body is entitled to be paid an amount equal to the amount worked out using the following formula:
start formula Licence fee times start fraction No. of refund days over 365 end fraction end formula
where:
Licence fee means the fee paid under section 107R of the SRC Act in respect of the licence fee year in which the sale day occurs.
No. of refund days means the total number of days in the period beginning on the sale day and ending on the last day of the licence fee year in which the sale day occurs.
In this section:
licence fee year means the year beginning on the starting date of a licence granted under section 107J of the SRC Act and ending on the day before the anniversary of that date.
This Act’s bill:Second reading speech
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