Article 8
Certification fee
1.
A credit rating agency applying for certification shall pay a certification fee of EUR 10 000 .
2.
The certification fee shall be payable in full at the time the credit rating agency applies for certification.
3.
Where a credit rating agency withdraws its application for certification before ESMA has notified that agency, in accordance with Article 15(4), second subparagraph, of Regulation (EC) No 1060/2009, that the application is complete, ESMA shall reimburse half of the certification fee. Where the application is withdrawn after that date, but before ESMA adopts the reasoned decision to certify or refuse certification, ESMA shall not reimburse the certification fee.
4.
By way of derogation from Article 7, a certified credit rating agency that is required to pay an annual supervisory fee pursuant to Article 7(1) shall be exempted from the payment of the supervisory fee in the year during which its certification takes effect.
The annual supervisory fee shall become payable by the certified credit rating agency in the year following its certification by ESMA in accordance with Article 7.