Annual fees
142 Annual fees
(1) A licensee must pay to the Territory an annual licence fee if prescribed by regulation.
(2) The annual fee must be paid each year commencing after the first year within 28 days after the anniversary of the day the licence was issued.
Note for subsection (2)
The application fee covers the first year of the licence.
(3) If a licensee fails to pay the annual fee by the day required under subsection (2):
(a) the licensee must pay a penalty calculated at 10% per year (calculated daily) on any outstanding amount of the annual fee; and
the Commission may suspend the licence until the fee is paid.
(4) The annual fee is payable regardless of whether the licensee is operating during the period for which the fee is payable.
This provision refers to the regulations (prescribed by regulation
). Made under this Act:
This Act’s bill:Explanatory statementSecond reading speech
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