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(8) For the purposes of this section,

• (a) the output shall be taken as the total horsepower-years developed during the year on the turbine shaft;

(9) For the purposes of these Regulations, one horsepower-year shall be taken as the equivalent of 6 535 kilowatt-hours; and the output at the turbine shaft shall be assumed to be the equivalent of 107 1/2 per cent of the output as recorded at the generator switchboard.

3 (1) An application for a licence to divert, use or store water for power purposes may be made to the Director and shall contain the following information:

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• (f) the estimated minimum amount of energy expressed in horsepower that will be developed on the turbine shaft within five years from the date of the application or within such other period as the applicant may state to be required for the completion of his initial development;

• (g) the maximum amount of energy expressed in horsepower which it is estimated will ultimately be developed on the turbine shaft from the waters for which application is made;

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(5) The rental for each year of a 10-year period mentioned in subsection (1) shall be based on the actual station output for the year in horsepower-years at the turbine shaft as estimated by the Director and in the case of electrical plants the Director may use switchboard records or any other available data.