# The Local Government (Direct Service Organisations) (Competition) Regulations 1993, Paragraph 1


For the purposes of this Schedule—
“apportioned notional premium” means the amount equal to the value of the product of—
12×NPM where—
NP means the notional premium;
M means the total number of months in the contract period;
“credit” means for any year of the contract the amount mentioned in paragraph (2)(a);
“fee” means for any year of the contract the amount mentioned in paragraph 2(b);
“saving” means the amount mentioned in paragraph 2(c)(i), adjusted in accordance with paragraph 3 for each year of the contract other than the first;
“difference” means the amount mentioned in paragraph 2(c)(ii), adjusted in accordance with paragraph 3 for each year of the contract other than the first;
“contract period” means the period during which the work is to be carried out;
“month” includes any month which is incomplete at the date when the contract period expires;
“year” includes any year which is incomplete at the date when the contract period expires.

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Source: https://www.legislation.gov.uk/uksi/1993/848/schedule/paragraph/1 (the official version)
Page: https://openlegislation.uk/local-government-direct-service-organisations-competition-regulations-1993/schedule/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.