For new licensees, their first annual license fee is payable when their license is issued by the CBB. In the case of those licensees subject to a fixed annual licensing fee, the annual fee due in relation to the first year in which the license has been granted, shall be prorated for the year using the date of the official licensing letter from the CBB, as the base for the prorated period. For those licensees subject to a fee based on their relevant operating expenses, the amount payable is the floor amount specified, reduced on a pro-rata basis. The prorated fee will result in fees charged only for the number of complete months left in the current calendar year.