Obligation to pay fees: IIPs
Article 5
(1) Each IIP shall pay a yearly fee of EUR 15 000. (2) In case the sum of the individual fees calculated for each RRM pursuant to Article 6 and of the individual fees each IIP will have to pay pursuant to paragraph 1 would exceed the amount to be covered by fees pursuant to Article 3(2), the yearly fee that each IIP will have to pay is decreased by multiplying it with a reduction factor calculated as follows: (3) At the latest by 31 January of each year, the Agency shall send each IIP an invoice for the annual fee to be paid within a deadline of four weeks. (4) In case an entity applies to become an IIP, the Agency shall send the entity an invoice amounting to 50 % of the fee pursuant to paragraph 1 and only accept the application once the invoice is paid. Where the Agency rejects the application because the entity does not comply with the requirements pursuant the delegated act adopted in accordance with Article 4a(8) of Regulation (EU) No 1227/2011, the entity is not entitled to a reimbursement of the paid fee. After authorisation of an entity as IIP, the Agency shall send the entity an invoice over the remaining fee pursuant to paragraph 1. (5) IIPs which cease to be authorised by the Agency shall not be entitled to any reimbursement of paid fees or to the waiving of any fees due.