(1) An annual rental fee must be paid for each year the authorisation
continues in force.
(2) An annual rental fee must be paid before the grant of
an authorisation.
(3) Subsequent annual rental fees must be paid by--
(a) the
date specified by the Secretary by written notice given to the person liable
to pay the fee, or
(b) if no date is specified--the date prescribed by, or
determined in accordance with, the regulations for the purposes of this
section.
(4) In subsection (2), a reference to the grant of an authorisation
includes a reference to the taking of action under this Act as a result of
which an authorisation is taken to have been granted under this Act.
Note--:
For example, a partial transfer of an authorisation cannot be registered under
section 122(5) until the annual rental fee is paid.