Regulation 5 Amendment of regulation 41 (calculation of credit cover requirement)

in the words before paragraph (i), for the words from “following” to “first quarter” substitute “(the “second quarter”) following the first quarter and the quarter (the “third quarter”) following the second quarter”;

for paragraph (ii) substitute—

“(ii)

DQ is—

(aa)

in respect of the credit cover requirement for the second quarter, the number of days remaining in the first quarter from and including the date on which the supplier becomes a scheme supplier; or

(bb)

in respect of the credit cover requirement for the third quarter, the number of days in the first quarter.”.