Regulation 30 Reduced first annual fee in certain circumstancesI1

England, Wales and Scotland

(1)

This regulation applies in any case where any of paragraphs (2), (3), (4), (5) or (6) of regulation 28 applied to the application for the licence.

(2)

In this regulation, “the old licence” means—

(a)

in a case to which paragraph (2) or (4) of regulation 28 applies, the complementary licence;

(b)

in a case to which paragraph (3) or (5) of regulation 28 applies, the former licence;

(c)

in a case to which paragraph (6) of regulation 28 apply, the partnership licence.

(3)

Where this regulation applies, the first annual fee for the licence is the amount calculated in accordance with the following formula—

A - (\frac{B}{12} \times C)

where—

A is the first annual fee that would, but for this regulation, be payable for a licence of the kind and category being applied for,
B is the amount of the last fee paid under section 100 for the old licence (whether it was a first annual fee or an annual fee), and
C is the number of whole calendar months (if any) between—
1. (i)
  
  the date on which the old licence ceased to have effect, and
2. (ii)
  
  the next anniversary of the issue of the old licence.

(4)

Where application of the formula in paragraph (3) produces a negative figure, there is no first annual fee for the licence.

Annotations