Paragraph 5 Variations of the Public Lending Right Scheme 1982

In article 42 (method of determining the number of notional loans)—

(a)

in paragraph (2)—

(i)

after “made in all groups; and” insert “, except where paragraph (5) applies,”;

(ii)

omit “financial year ending in the”;

(iii)

for “financial year is not available to the Board, the most recent financial year” substitute “sampling year is not available to the Board, the most recent sampling year or financial year”;

(b)

in paragraph (3), for “paragraph (2)” substitute “paragraphs (2) and (5)”;

(c)

after paragraph (3) insert—

“(4)

Paragraph (5) applies where the Board has designated all service points in a group as (or as included in) operative sampling points for the purpose of a sampling year.

(5)

Where this paragraph applies, the number of notional loans of a book for the group in question during that sampling year is the number of loans of that book recorded during the sampling year at the operative sampling points in that group.”.