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Paragraph 7 Interpretation

Original text. Later amendments are not shown.

In this Schedule–

  • “allocation ratio” means, in relation to any registered eligible producer, the fraction represented by the personal value divided by the collective value;

  • “alternative period” means the period commencing on 1st April 1993 and ending on 31st March 1994;

  • “collective value” means the total of the personal values for all registered eligible producers;

  • “personal allocation” means the allocation ratio multiplied by the relevant asset total;

  • “personal value” means the total value of qualifying milk calculated in accordance with paragraph 2 above;

  • “qualifying milk” means milk produced during the relevant period by a registered eligible producer while he was a relevant producer; and

  • “standard eligible producer” means a registered eligible producer who is neither an accepted hardship producer nor an assessed hardship producer for the purposes of paragraph 6 above.