Deposits7.

(1)

The MMO may require the holder of a licence to pay a deposit of such amount as it may determine on account of any fee payable under article 4 or 5 which—

(a)

is not subject to a maximum specified in Schedule 1 or 2; or

(b)

is subject to a maximum specified in Schedule 1 of—

(i)

£750; or

(ii)

£15,000.

(2)

The amount of the deposit payable under paragraph (1) in a case within sub-paragraph (a) or (b)(ii) of that paragraph may not exceed £10,000.

(3)

The amount of the deposit must be calculated on the basis of an estimate of the total amount of the fee.