16.—(1) The Company may from time to time grant a licence to any person to place, lay down, maintain, renew or use moorings, buoys and similar apparatus for vessels in the harbour.
(2) Any licence granted under paragraph (1) above shall be valid for a period of no longer than three years commencing with the date on which it takes effect.
(3) The Company may charge a reasonable fee for the grant of a licence under this article.