(1) The annual fee payable for the issue or renewal of a parking bay licence for the parking facilities described in the second column of an item in Schedule 2 is the fee set out in the third column of the item.

(2) However, if a licence fee is paid in instalments with the permission of the CEO under section 11(2) of the Act, the annual fee payable for the licence under subregulation (1) is increased by 5%.