Regulation 2 Removal of references to the PPF Ombudsman levy

(1)

The Levies Regulations are amended in accordance with this regulation (see also regulations 3 and 4 which make further amendments).

(2)

In regulation 2 (interpretation), omit the definition of “the PPF Ombudsman levy”.

(3)

For the heading to Part 2 substitute “ ADMINISTRATION LEVY ”.

(4)

Omit regulation 3 (meaning of “the levies” in Part 2).

(5)

In regulation 4 (liability for the levies)—

(a)

for the heading substitute “ Liability for the administration levy ”;

(b)

omit paragraph (2);

(c)

in paragraph (3), for “Subject to paragraph (4), the levies are” substitute “ The administration levy is ”;

(d)

omit paragraph (4) M1;

(e)

in paragraph (5), for “The levies in respect of a financial year are” substitute “ The administration levy in respect of a financial year is ”; and

(f)

in paragraph (6), for “the levies are” substitute “ the administration levy is ”.

(6)

In regulation 5(1) (the reference day), for “each of the levies” substitute “ the administration levy ”.

(7)

In regulation 7(2) (schemes eligible for only part of the financial year), for “each of the levies” substitute “ the administration levy ”.

(8)

In regulation 13(1) M2 (meaning of “the levies” in Part 4), omit “, the PPF Ombudsman levy”.

(9)

In regulation 18(4) M3 (avoidance of double liability: schemes in Northern Ireland), omit sub-paragraph (b).

Annotations