Shortened licence term
41 Shortened licence term
This section applies if the chief executive issues or renews a licence for a shorter term under part 6.
For each whole month the term of the licence is shortened, an amount must be refunded that is equal to one-twelfth of the licence renewal fee for the licence for 1 year that was payable when the fees for the licence were paid.
In this section—
whole month means a month beginning on the day of the calendar month on which a licence was issued or renewed and ending on the day before the corresponding day of the next calendar month.
Examples of a whole month—
• for a licence issued on 1 September in a year—a month beginning on the first day of any month and ending on the last day of that month
• for a licence issued on 7 March in a year—a month beginning on the seventh day of any month and ending on the sixth day of the next month
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