Regulation 6

Subject to paragraph (2) below, where the sum of the fees payable under regulations 4 and 5 above by all the insurance companies within a group exceeds £175,000 the fee in respect of each of those insurance companies shall be abated proportionately so that the sum of the fees payable by those insurance companies is £175,000.

For the purposes of paragraph (1) above, an insurance company shall be deemed to be a member of a group at the date upon which it deposits documents in respect of a financial year in accordance with section 22(1) of the Act if it was a member of that group at the end of the financial year to which those documents relate.