(a) Moneys received by the Commission under the law or this part may, within 1 year from the receipt thereof, be refunded to the party for whose account the same were received, on proof that:

1. (1) The moneys were in excess of the amount required.
2. (2) The participation license for which application was made has been refused by the Commission.
3. (3) The moneys were received as a fine and the Commission has, after review, reduced the amount thereof.
4. (4) Upon appeal, the Court reduced or remitted the fine imposed and paid.