Article 3 Fees payable in connection with authorisations by the Secretary of State under section 393

Every person who on the principal commencement date is the holder of an authorisation to act as an insolvency practitioner granted by the Secretary of State pursuant to section 393 shall within 7 days of that date pay to the Secretary of State a fee in respect of the maintenance of that authorisation calculated in accordance with paragraph (2).

The fee payable by virtue of paragraph (1) shall be calculated by multiplying £2,000 by the number of days in the period starting with the principal commencement date and ending with the date immediately before the next anniversary of the granting of the authorisation or the date of expiry of the authorisation (whichever occurs first) and dividing the result by 365.

Every application made to the Secretary of State pursuant to section 392 for authorisation to act as an insolvency practitioner shall be accompanied by a fee of £2,000.

Subject to paragraph (5), every person who holds an authorisation granted by the Secretary of State pursuant to section 393 to act as an insolvency practitioner shall, on each anniversary of the granting of that authorisation when it is in force, pay to the Secretary of State in connection with the maintenance of that authorisation a fee of £2,000.

Where on the relevant anniversary the authorisation mentioned in paragraph (4) has less than a year to run, the fee shall be calculated by multiplying £2,000 by the number of days that the authorisation has to run (starting with the day of the anniversary) and dividing the result by 365.