Article 16: Regulatory Fees a) The license for postal or courier services shall be issued upon the payment of the application and license fees as prescribed in Annex One of these regulations; b) Annual fees payable by public utilities of annual turnover which shall be determined by the Regulatory Board ; c) Annual contribution to the universal postal access fund which shall be determined by the Presidential Order ; d) The Authority may from time to time amend the fees applicable to different types of licenses and revised charges are applied to all licenses of the same type; e) License fees shall be paid to the Authority bank account. Article 17: License Renewal The license renewal procedure shall be subject to the submission of the following document: a) Financial Report; b) Performance report of the previous three (3) years; c) Bank slip of the payment of the license fee; d) Any other document required by the Authority. The license holder must file an application for any license renewal at least ninety (90) calendar days prior to the expiration of the valid license; The Authority shall attempt to make its decision not later than thirty (30) days prior to the expiration of the current license, and shall issue the license not less than seven (7) days prior to the license expiration, so long as the applicant has filed its renewal application and requested additional information in a timely manner. Article 18: License Modifications A license modification proceeding may be initiated by the Authority or by request of the license holder. The Authority may modify a license before its expiration when it determines that an amendment of the license is needed in order to respond to: (a) Significant changes in the controlling laws or regulations, or significant court decisions that directly affect the license provisions; 13 | 2 6