Paragraph 5 Method of calculating amount of any payment in respect of levy

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In the formula in paragraph 3 the correction factor K_y shall be the amount of money, whether positive or negative, given by the following formula–

K_{y} = [D_{y - 1}^{'} - D_{y - 1}^{"}) - \frac{R_{y - 1}}{100} \times (X_{y - 1}^{'} - X_{y - 1}^{"}) + \frac{r_{y - 1} - R_{y - 1}}{100} \times X_{y - 1}^{'})] \times [1 + \frac{I_{y - 1}}{100}] + [(D_{y - 2} - D_{y - 2}^{"}) - \frac{R_{y - 2}}{100} \times (X_{y - 2} - X_{y - 2}^{"})] \times [1 + \frac{I_{y - 2}}{100}] \times [1 + \frac{I_{y - 1}}{100}]

where–

I_y−1 is the arithmetic average of the LIBOR rates on the last day of each of the first six months in period y − 1; and
I_y−2 is the arithmetic average of the LIBOR rates on the last day of each of the first six months in period y − 2.