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Paragraph 2

Original text. Later amendments are not shown.

For the purposes of this Schedule—

(a)

“issue” in relation to a PRN or PERN means to sell or otherwise supply to a producer or operator of a scheme or to the representative of a scheme or operator of a scheme, and a reprocessor or exporter may issue a PRN or PERN to himself;

(b)

“quarter year” means the first, second, third and fourth three months of the year; and

(c)

“independent auditor” means an auditor who would be eligible for appointment as company auditor of the reprocessor or exporter under Part II of the Companies Act 1989.