(1) An eligible company to whom a licence is granted shall, at the date of the grant, pay the prescribed fee.
(2) A licensee shall, on or before 15 January after the first grant of the licence, pay the prescribed annual fee.
(3) Unless the Minister waives the payable fee under subsection (1) or (2), there shall be payable by a licensee who fails to pay the fee by the relevant date described in subsection (2), a surcharge not exceeding 1/12 of that fee for each month or part of a month that the fee is not paid.