(a) The former registered owner of a transferred vehicle may have its plates and registration number transferred to another vehicle in the same classification by applying to the Administration and paying a transfer fee established by the Administration.

(b) (1) If the vehicle to which the transfer is made is one for which the registration fee is higher than that required for the former vehicle, the owner shall pay, in addition to the transfer fee, the difference between the registration fee paid for the former vehicle and the registration fee otherwise required for the vehicle to which the transfer is made.

(2) If the vehicle to which the transfer is made is one for which the registration fee is lower than that required for the former vehicle, the Administration need not make any refunds of the difference.