Paragraph 7

Rule 11(1) of the Rules shall be deleted and the following rule shall be inserted in its place:—

“11

(1)

The Council shall not be entitled to levy in respect of each calendar year commencing on 1st January an amount in respect of each practising insurance broker or enrolled body corporate which will exceed the highest amount in respect of each business (“the maximum levy”) calculated at any time during such calendar year upon the latest information supplied as follows:—

Number of persons ascertained in accordance with rule 10 Calculation of the maximum levy

1—50 inclusive £100 per person, subject to a minimum of £400
51—200 inclusive
The aggregate of:

(a)

£100 per person for the first 50 persons (£5,000); and

(b)

£80 per person for the remainder

201—1000 inclusive
The aggregate of:

(a)

£100 per person for the first 50 persons (£5,000);

(b)

£80 per person for the next 150 persons (£12,000); and

(c)

£60 per person for the remainder

1001—2000 inclusive
The aggregate of:

(a)

£100 per person for the first 50 persons (£5,000);

(b)

£80 per person for the next 150 persons (£12,000);

(c)

£60 per person for the next 800 persons (£48,000); and

(d)

£40 per person for the remainder

Over 2000
The aggregate of:

(a)

£100 per person for the first 50 persons (£5,000);

(b)

£80 per person for the next 150 persons (£12,000);

(c)

£60 per person for the next 800 persons (£48,000);

(d)

£40 per person for the next 1000 persons (£40,000); and

(e)

£20 per person for the remainder.

”

Number of persons ascertained in accordance with rule 10	Calculation of the maximum levy
1—50 inclusive	£100 per person, subject to a minimum of £400
51—200 inclusive	The aggregate of: (a) £100 per person for the first 50 persons (£5,000); and (b) £80 per person for the remainder
201—1000 inclusive	The aggregate of: (a) £100 per person for the first 50 persons (£5,000); (b) £80 per person for the next 150 persons (£12,000); and (c) £60 per person for the remainder
1001—2000 inclusive	The aggregate of: (a) £100 per person for the first 50 persons (£5,000); (b) £80 per person for the next 150 persons (£12,000); (c) £60 per person for the next 800 persons (£48,000); and (d) £40 per person for the remainder
Over 2000	The aggregate of: (a) £100 per person for the first 50 persons (£5,000); (b) £80 per person for the next 150 persons (£12,000); (c) £60 per person for the next 800 persons (£48,000); (d) £40 per person for the next 1000 persons (£40,000); and (e) £20 per person for the remainder.