Regulation 3 Amendment of the Artist’s Resale Right Regulations 2006

(1)

The Artist’s Resale Right Regulations 2006^f1 are amended as follows.

(2)

In regulation 3(4) (artist’s resale right: calculation of sale price), omit “, and converted into euro at the European Central Bank reference rate prevailing at the contract date”.

(3)

In regulation 12(3)(b) (“resale”: minimum sale price), for “1000 euro” substitute “£1,000”.

(4)

In regulation 12(4)(b) (“resale”: minimum sale price for works recently acquired directly from author), for “10,000 euro” substitute “£10,000”.

(5)

In Schedule 1 (calculation of resale royalty)—

(a)

in paragraph 1, in the table—

(i)

for “0 to 50,000 euro” substitute “£0 to £50,000”;

(ii)

for “50,000.01 to 200,000 euro” substitute “£50,000.01 to £200,000”;

(iii)

for “200,000.01 to 350,000 euro” substitute “£200,000.01 to £350,000”;

(iv)

for “350,000.01 to 500,000 euro” substitute “£350,000.01 to £500,000”;

(v)

for “500,000 euro” (in the second place those words occur) substitute “£500,000”;

(b)

in paragraph 2, for “12,500 euro” substitute “£12,500”.

Annotations

Footnotes

f1: S.I. 2006/346, to which there are amendments not relevant to these Regulations.