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Regulation 3 Amendment to the 2015 Regulations

Original text. Later amendments are not shown.

In regulation 14 (windfall profit)—

(a)

in paragraph (1), for “any increase” substitute “an above-threshold increase”; and

(b)

in paragraph (4), before the definition of “area-determined”, insert—

  • ““above-threshold increase” means an increase attributable to the portion of the reduction in the area-determined exceeding 40 per cent;”.