(1) The amount of the deposit by a credit institution in the deposit protection account under section 4 shall, after the initial calculation, be recalculated annually by the Bank for each credit institution or class of credit institutions by reference to the returns made by credit institutions at the direction of the Bank.
(2) The amount of the deposit shall, where necessary, be amended to the appropriate amount recalculated under subsection (1), by the credit institution concerned, not later than 7 days, or such longer period as the Bank may agree in writing, after the date of receipt by it of notification in writing from the Bank of the amount required to effect the amendment.