# The Fossil Fuel Levy (Scotland) Regulations 1996, Paragraph 5


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—
K 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—
Iy—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
Iy—2 is the arithmetic average of the LIBOR rates on the last day of each of the first six months in period y—2.

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Source: https://www.legislation.gov.uk/uksi/1996/293/schedule/2/paragraph/5 (the official version)
Page: https://openlegislation.uk/fossil-fuel-levy-scotland-regulations-1996/schedule-2/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.