Regulation 1 Citation, commencement and interpretation

These Regulations may be cited as the Diffuse Mesothelioma Payment Scheme (Levy) Regulations 2014.

These Regulations come into force on 28th November 2014.

In these Regulations—

• “a financial year” means the 12 month period ending with the 31st March in any year;

• “individual gross written premium” means the sum, before commission and the cost of reinsurance are taken out, of all employers’ liability insurance premiums written in a calendar year by an individual active insurer^f1;

• “reference period” has the meaning given in regulation 3;

• “the payment amount” means the share of the total amount of the levy that an active insurer is required to pay;

• “the scheme” means the Diffuse Mesothelioma Payment Scheme established by the Diffuse Mesothelioma Payment Scheme Regulations 2014^f2;

• “total amount of the levy” means an annual sum decided by the Secretary of State under section 13 of the Mesothelioma Act 2014 in each financial year with a view to meeting the costs of the scheme;

• “total gross written premium” means the sum, before commission and the cost of reinsurance are taken out, of all employers’ liability insurance premiums written in a calendar year by all active insurers.