Article 12 — Payment of recognition fees

1.The recognition fees referred to in Article 8(1) shall be due at the time the trade repository applies for recognition under Article 77(1) of Regulation (EU) No 648/2012 and shall be paid in full within 30 calendar days from the date of issuance of ESMA’s invoice.

ESMA shall not reimburse the recognition fee.

2.The annual supervisory fee for a recognised trade repository for a given year (n) shall be paid by the end of the third month of the calendar year for which such fee is due. ESMA shall send the invoice specifying the amount of the annual supervisory fee to the recognised trade repository at least 30 calendar days before the payment date.