(1) An appellant, other than the Exchange, must pay an administrative fee of $1,500 when submitting a notice of appeal.
(2) The administrative fee is not refundable unless:
(a) the appellant tells the secretary of the Appeals Committee in writing of withdrawal of the appeal at least 7 days before the hearing of the appeal;
(b) the appeal is successful; or
(c) the chairman of the Appeals Committee agrees to a refund, whether in full or in part.