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