In exceptional circumstances — for instance where a licensee is in financial distress —
the CBB may waive all or part of a license fee. In such situations, the CBB would
normally reclaim waived fees, should the financial soundness of the licensee be
restored. Where a license is cancelled (whether at the initiative of the firm or the
CBB), no refund is paid for any months remaining in the calendar year in question,
should a fee have been paid for that year.
October 2007