Regulation 6 Calculation of levy—supplementary

If—

the amount of the levy for the first accounting period to follow the occurrence of the relevant event (“the first subsequent accounting period”) shall (subject to paragraph (2)) be

$$\mathrm{A}-\mathrm{B}+\mathrm{C}$$

where—

• A is the amount of the levy for the first subsequent accounting period calculated under regulation 5(1) or, as appropriate, 5(2),

• B is the amount of the levy for the relevant period which was calculated in accordance with regulation 5(2) or (3) as the case may be (or, if the same accounting period is the first accounting period to follow more than one relevant event, the aggregate of the amounts of the levies for the relevant periods in question so calculated), and

• C is the amount which would have been the amount of the levy for the relevant period if it had been calculated in accordance with regulation 5(1) (or, if the same accounting period is the first accounting period to follow more than one relevant event, the aggregate of the amounts which would have been the amounts of the levies for the relevant periods in question so calculated).

If B − C is greater than A, the levy for the first subsequent accounting period shall be reduced to zero and the levy for the next accounting period (or, as appropriate, the levies for more than one subsequent accounting period) shall be reduced such that the aggregate reduction is equal to the difference between B − C and A.

In this regulation a “relevant event” is—