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Paragraph 37 Disapplication of paragraph 26

Original text. Later amendments are not shown.

(1)

This paragraph applies where—

(a)

an appropriate person has determined under paragraph 29 an amount which is market value for a payment in connection with an agreement; and

(b)

the manager proposes—

(i)

to make an agreement with a relevant person on the same terms and conditions as the existing agreement, and

(ii)

to require a payment from the relevant person in connection with the agreement which does not exceed the existing amount.

(2)

In sub-paragraph (1)(b)—

  • “the existing agreement” means the agreement mentioned in sub-paragraph (1)(a), and

  • “the existing amount” means the amount mentioned in sub-paragraph (1)(a).