Regulation 28 Amendment of regulation 2 of the Levy Regulations

in paragraph (1) after the words “every registrable scheme” there shall be inserted the words “with at least 2 active members”;

in paragraph (2) at the end there shall be added the words “and the amount payable shall be 3 times the amount calculated at the beginning of the first registration year in that period.”;

for paragraph (4), there shall be substituted the following paragraph—

“(4)

Where, during a period in respect of which the levy is payable in accordance with these Regulations, a scheme—

(a)

becomes a registrable scheme;

(b)

ceases to be a registrable scheme;

(c)

becomes a paid-up or frozen scheme; or

(d)

is wound up,

the levy shall nevertheless be payable in full for that period.”.