By way of derogation from Article 4, the annual supervisory fee in the first year for recognised third-country administrators, administrators endorsing third-country benchmarks, and for authorised critical benchmark administrators, with reference to the year in which they have been recognised or authorised, or third-country benchmarks were first endorsed, shall be calculated by applying to the fee specified in Article 4 the following coefficient:
\mathrm{Coefficient} = \frac{\text{Number of calendar days from the date of registration to } 31\text{ December}}{\text{Number of calendar days in year n}}
The supervisory fee of the first year shall be paid after ESMA has notified the benchmark administrator that its application has been successful and within 30 days from the date of issuance of ESMA’s debit note.
By way of derogation from the first subparagraph, where a benchmark administrator is recognised, authorised, or starts endorsing third-country benchmarks during the month of December, it shall not pay a first-year supervisory fee.