Article 5 Amendment of article 48 - shortfall in the buy-out and late payment funds: the total mutualisation sum

omit “and” after sub-paragraph (a),

in sub-paragraph (b) for “for each obligation period thereafter” substitute “for each subsequent obligation period up to and including the obligation period starting on 1 April 2025”,

after sub-paragraph (b) insert—

“(c)

for each obligation period thereafter, the mutualisation cap for the previous obligation period increased or, as the case may be, decreased by the percentage increase or decrease in the consumer prices index over the 12 month period ending on 31 December in the previous obligation period (the resulting figure being rounded to the nearest penny, with any half of a penny being rounded upwards).”.