5.—(1) Where the registered provider applies to cancel its registration under section 15(1)(b) of the Act within six months of the preceding 1 April and the registration authority agrees to grant that application, a refund of up to 75% of the annual fee will be paid to the registered provider.
(2) The amount of the refund to which a registered provider is entitled is a quarter of the annual fee paid for each complete quarter which remains of the twelve month period for which it is due as at the date the registration authority receives the application to cancel and subject to a maximum refund of 75%.