4. United States Dollars 50,000 35,000 50,000 25,000

A bank licensed under the Order shall1 immediately upon being granted a licence, pay the appropriate annual licence fee to the Authority.

Without prejudice to sub-regulation (1), the annual licence fees payable by a licensee thereafter shall become due on each anniversary of the grant of the licence. If the annual licence fee is not paid within sixty days of the due date, a penalty of twenty-five per cent of the licence fee shall immediately be payable.