Regulation 2 The requirement to pay a share of the total amount of the levy
(1)
An active insurer is required to pay a share of the total amount of the levy based on that insurer’s relative market share in the reference period as determined in accordance with regulation 4.
(2)
The requirement in paragraph (1) is a requirement—
(a)
to pay the Secretary of State the payment amount specified in the notice under regulation 5(1) in accordance with the notice under regulation 5(2); and
(b)
subject to details given in a notice under regulation 5(2)(a), to pay the payment amount by the end of a financial year in respect of which the Secretary of State decides the total amount of the levy.