55 length to permit it to earn a reasonable return on the new investments. The Telecommunications Commission may, on (7) application made under subsection (5), renew the individual licence on the same or modified terms, and shall make a determination of the matter within three months of the date of the application. In addition to any administrative fee levied under (8) section 19(1)(a), the Telecommunications Commission may levy a renewal fee payable by an individual licensee in connection with the renewal of its individual licence taking into account the economic value of the renewed individual licence. There is no presumption that an individual licence (9) will or will not be renewed. The Telecommunications Commission shall publish a (1) 40. standard registration form for class licences issued under section 38(3). Subject to section 129, any person (“applicant”) who (2) meets the specified qualification criteria may register for a class licence under section 38(3) by filing with the Telecommunications Commission a complete, correct and signed registration form published under subsection (1). The Telecommunications Commission shall provide (3) written notice of non-effective registration to an applicant filing a registration form under subsection (2) or (5) if(a) the applicant fails to meet any criteria applicable to, and so is ineligible for, the relevant class licence; or (b) the registration form is incomplete or incorrect. Unless the Telecommunications Commission provides (4) the notice under subsection (3), registration shall take effect forty-five days after filing with the Telecommunications — (a) the registration form; or Class licences