# Finance Act 2004, Paragraph 16


(1) Amount C arises if paragraph (c) of section 179(2) (amount payable for a period to be not less than required amount) is not complied with and is calculated as follows.
(2) In relation to each period beginning with the date on which the loan is made and ending with the last day of a loan year, calculate—
RA-APwhere—
RA is the required amount in relation to that period, and
AP is the amount payable during that period.
(3) If an amount calculated under sub-paragraph (2) is negative, treat that amount as nil.
(4) Amount C is the largest of the amounts calculated under sub-paragraph (2).

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Source: https://www.legislation.gov.uk/ukpga/2004/12/schedule/30/paragraph/16 (the official version)
Page: https://openlegislation.uk/finance-act-2004/schedule-30/paragraph-16
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.