Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Comptroller - General of Customs must, before the end of a financial year, notify each holder of a depot licence of the terms of this section.
(2) If the holder pays a depot licence charge for the renewal of the licence before the end of the financial year, the licence is renewed for another period of 12 months at the end of the financial year.
(3) If the holder fails to pay the charge before the end of the financial year, a Collector may, until the charge is paid or the end of 90 days immediately following the end of the financial year (whichever occurs first), refuse to permit goods that are subject to customs control to be received into the depot.
(4) If the holder pays the charge within 90 days immediately following the end of the financial year, the licence is taken to have been renewed for another period of 12 months at the end of the financial year.
(5) If the holder fails to pay the charge within 90 days immediately following the end of the financial year, the licence expires at the end of that period of 90 days.
(6) A depot licence that has been renewed may be further
renewed.