Fees Payable under Existing Licences

  1. This section applies where, immediately prior to the Succession Date, an existing licence includes an obligation to pay annual licence fees determined in accordance with Subsection 19J (5) of the Telecommunications Act, 1996 (an “existing obligation”).
  2. For the period that an existing licence continues in force, an existing obligation is replaced by an obligation to pay annual licence fees of an amount fixed from time to time by the Minister responsible for treasury matters in respect of that licence as an amount that the Minister considers to be a reasonable contribution towards NICTA’s forecast expenditure as estimated in the NICTA budget.
  3. In fixing annual licence fees under Subsection (2), the Minister shall have regard to –
    1. the principles specified in Section 35 of the Act; and
    2. the NICTA budget; and
    3. the information provided under Subsection (4) and
    4. such other matters as the Minister considers relevant.
  4. For the purposes of fixing the applicable annual licence fee payable, each existing licensee shall submit to NICTA –
    1. within three months from the end of its financial year, its latest annual financial statements audited by a registered company auditor or in such other form as approved by NICTA; and
    2. such other information as NICTA may request.
  5. For the purposes of Section 304(4)(b) of the Act, the one or more ICT licences issued shall include an obligation to pay –
    1. where the quantum and timing of payments are specified in the existing licence, those amounts and timing; and
    2. where an existing licence contains an existing obligation , annual licence fees of an amount fixed from time to time by the Minister responsible for treasury matters in respect of that licence as an amount that he considers to be a reasonable contribution towards NICTA’s forecast expenditure as estimated in the NICTA budget.