{
  "url": "https://openlegislation.uk/fossil-fuel-levy-regulations-1990/schedule-2/paragraph-5",
  "json_url": "https://openlegislation.uk/fossil-fuel-levy-regulations-1990/schedule-2/paragraph-5.json",
  "legislation": "uksi/1990/266",
  "legislation_title": "The Fossil Fuel Levy Regulations 1990",
  "legislation_url": "https://openlegislation.uk/fossil-fuel-levy-regulations-1990",
  "path": "schedule/2/paragraph/5",
  "kind": "paragraph",
  "number": "5",
  "heading": "Method of calculating amount of any payment in respect of levy",
  "text": "In the formula in paragraph 3 the correction factor Ky shall be the amount of money, whether positive or negative, given by the following formula–\nKy=[Dy-1'-Dy-1\")-Ry-1100×(Xy-1'-Xy-1\")+ry-1-Ry-1100×Xy-1')]×[1+Iy-1100]+[(Dy-2-Dy-2\")-Ry-2100×(Xy-2-Xy-2\")]×[1+Iy-2100]×[1+Iy-1100] where–\nIy−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\nIy−2 is the arithmetic average of the LIBOR rates on the last day of each of the first six months in period y − 2.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "substituted",
      "affecting": "uksi/2001/3286",
      "affecting_title": "The Fossil Fuel Levy (Amendment) (No. 2) Regulations 2001"
    },
    {
      "type": "words inserted",
      "affecting": "uksi/2001/3286",
      "affecting_title": "The Fossil Fuel Levy (Amendment) (No. 2) Regulations 2001"
    },
    {
      "type": "substituted",
      "affecting": "uksi/2001/3286",
      "affecting_title": "The Fossil Fuel Levy (Amendment) (No. 2) Regulations 2001"
    },
    {
      "type": "substituted",
      "affecting": "uksi/1998/1828",
      "affecting_title": "The Fossil Fuel Levy (Amendment) Regulations 1998"
    },
    {
      "type": "substituted",
      "affecting": "uksi/1996/1309",
      "affecting_title": "The Fossil Fuel Levy (Amendment) Regulations 1996"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1990/266/schedule/2/paragraph/5",
    "retrieved_at": "2026-10-29T15:27:51.089242+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}