(1) There shall be paid to the Registrar such fees in connection with the requirements of this Act, as are prescribed in the regulations.
(2) If an international business company fails to pay any amount due as a fee under subsection (1) by the prescribed date, the fee increases by 10% of that amount for every 30 days that the international business company is in default.
(3) If an international business company fails to pay the amount due as an increased licence fee under subsection (2) within 2 months of the due date, prescribed under subsection (2) then, the licence fee increases by 50% of the licence fee prescribed in the regulations.
(4) This section does not apply to an international business company that is in the process of being wound-up or dissolved.