Regulation 3 Amount of the levy

The levy shall be of the following amounts in respect of each registration year—

(a)

where the number of active members of a registrable scheme is at least 2 but not greater than 6, 5;

(b)

where the number of active members of a registrable scheme is at least 7 but not greater than 99, 12;

(c)

where the number of active members of a registrable scheme is at least 100 but not greater than 999, the greater of—

(i)

the amount calculated by multiplying 10p by the number of active members of that scheme, or

(ii)

£12;

(d)

where the number of active members of a registrable scheme is at least 1,000 but not greater than 4,999, the greater of—

(i)

the amount calculated by multiplying 8p by the number of active members of that scheme, or

(ii)

£100;

(e)

where the number of active members of a registrable scheme is at least 5,000 but not greater than 9,999, the greater of—

(i)

the amount calculated by multiplying 6p by the number of active members of that scheme, or

(ii)

£400;

(f)

where the number of active members of a registrable scheme is at least 10,000, the greater of—

(i)

the amount calculated by multiplying 4p by the number of active members of that scheme, or

(ii)

£600.