(1) Within such period as the Commission may direct, the trading licensee shall pay to the Commission the licence fees, initial and also periodic, mentioned 1 [in the Himachal Pradesh Electricity Regulatory Commission (Conduct of Business) Regulations, 2005 or] in the specific condition in such manner as the Commission may direct in the said specific condition.
(2) Where the trading licensee fails to pay to the Commission any of the fees due under sub - regulation (1) by the due dates, -
(a) without prejudice to other obligations, the trading licensee shall be liable to pay interest on the outstanding amount at a simple interest rate of 1.5 percent per month, the interest being payable for the period beginning on the day after which the amount became due, and ending on the day on which the payment is made to the Commission; and 1 Ins. Vide Not. No. HPERC/381 dated 22 nd February, 2005 published in R.H.P. (Extra) dated 23 rd February, 2005 at p. 3934-3935 and corrigendum issued Vide Not. No. HPERC/381 dated 23 rd June, 2005, published in R.H.P. (Extra) dated 27 th June, 2005 at p. 1480.
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(b) in the event of continued default by the trading licensee, the Commission may revoke the trading licence.
(3) The trading licensee shall be entitled to take into account any fee paid by it under this regulation as an expense in the determination of aggregate revenues to be charged to the tariffs, but shall not take into account any interest paid pursuant to this regulation.