Not heard that one either Thin. If it does turn out to be correct it shows the inherent lack of understanding of the aviation industry by the local non flying management.
The new COM was issued in line with JAR's when they came into force last year and had to be approved as such. If you have been to the CAA for anything recently you can understand the costs involved especially when you consider the additional costs to do with corporate applications. It was bound to be expensive from the outset.
Does this sound along the lines of the other popular rumour at the moment of local licensing? Why would we need JAA approval and why not have a Brunei license too. Saves money! Next we will be asked to land with no fuel because we keep going places with 6 to 8 tonnes of fuel we don't use. Why do we need that?