Section 14Part 3 — PROFESSIONAL DIRECTORS
Licence fees
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A professional director who is granted a licence under this Part shall upon the grant of the licence —
pay the prescribed licence fee to the Authority; and
comply with the conditions of the licence.
Each licensed professional director shall, on or before the 15th January in each calendar year, provide to the Authority the information in the prescribed form and pay to the Authority the prescribed annual fee, and there shall be payable by a licensed professional director who fails to pay the prescribed annual fee by that date, a surcharge of one-twelfth of that fee for every month or part of a month after the 15th January in each year that the fee is not paid.
If there is any change in the information provided to the Authority for the grant of a licence, a professional director shall within twenty-one days of the change, inform the Authority of the change.
A professional director who acts in contravention of subsection (3) commits an offence and is liable on summary conviction to a fine of twenty thousand dollars.
Defined Terms
professional directorlicenceAuthoritysurcharge