4. Application for grant or renewal of licence
(1) An applicant for a licence shall cause a fee of $1 100 to be paid to the Commissioner before the licence is granted to that applicant under section 26D of the Act.
(2) Subject to the Act, a licence has effect on and from the day on which it is granted and expires on 1 January next following that day.
(3) An applicant for the renewal of a licence shall cause a fee of $100 to be paid to the Commissioner before the Commissioner renews the licence.
(4) An application for the renewal of a licence shall be made to the Commissioner on or before 30 November in the year preceding the year to which that application relates.
(5) Subject to the Act, a licence renewed by the Commissioner has effect on and from 1 January next following that renewal and expires at the end of the period of 12 months commencing on that date.