16. Where the holder of a licence which falls to expire on the 30th September fails to serve due notice of an application for its renewal before the renewal date a court of summary jurisdiction, upon application made in compliance with the procedure set out in Part I of Schedule 4 as modified by Part II of that Schedule not later than the end of the period of 12 months from the date on which the licence expires, may renew the licence—
(a)if it is satisfied that there was good reason for the failure; or
(b)upon the payment of such additional fee as may be fixed by order under section 116 of the [1978 c. 23.] Judicature (Northern Ireland) Act 1978 for each month or part of a month between the renewal date and the time when application is made under this Article for the renewal of the licence.