{
  "url": "https://openlegislation.uk/fossil-fuel-levy-scotland-regulations-1996/schedule-2/paragraph-5",
  "json_url": "https://openlegislation.uk/fossil-fuel-levy-scotland-regulations-1996/schedule-2/paragraph-5.json",
  "legislation": "uksi/1996/293",
  "legislation_title": "The Fossil Fuel Levy (Scotland) Regulations 1996",
  "legislation_url": "https://openlegislation.uk/fossil-fuel-levy-scotland-regulations-1996",
  "path": "schedule/2/paragraph/5",
  "kind": "paragraph",
  "number": "5",
  "heading": null,
  "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—\nK y =[( D y-1 ' - D y-1 \" )-( R y-1 100×( X y-1 ' - X y-1 \" ))× ( r y-1 - R y-1 100× X y-1 \" ) ] × [ 1+ I y-1 100 ]+ [( D y-2 - D y-2 ' )- ( R y-2 100×( X y-2 - X y-2 ' ))]×[1+ I y-2 100]×[1+ I y-1 100] 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": "subst",
      "affecting": "ssi/2001/335",
      "affecting_title": "The Fossil Fuel Levy (Scotland) Amendment Regulations 2001"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1996/293/schedule/2/paragraph/5",
    "retrieved_at": "2026-10-29T12:52:40.008931+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."
}