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(1) The fees to be paid in respect of an individual licence shall be as prescribed in Table A of the First Schedule.

(2) The fees to be paid in respect of a class licence shall be as prescribed in the Second Schedule.

(3) The fees referred to in subregulations (1) and (2) shall be paid to the Commission by such means and in such manner as the Commission may decide, from time to time.

(4) Subject to these Regulations, no individual licence shall be issued or renewed except upon payment of the appropriate fees as prescribed and set out in Table A of the First Schedule.