Paragraph 11 Information on retention clausesF1

(1)

A statement, expressed as a percentage calculated in accordance with the formula set out in sub-paragraph (2), of the difference between—

(a)

the overall value of monies deducted or retained pursuant to retention clauses in qualifying construction contracts from payments made by the qualifying company to its suppliers (“sum C”); and

(b)

the overall value of monies paid by the qualifying company to its suppliers under all qualifying construction contracts (“sum D”).

(2)

The formula referred to in sub-paragraph (1) is—

\frac{s u m C}{s u m D} \times 100

Annotations

Textual amendments

F1: Sch. 2 inserted (in relation to each financial year of a company beginning on or after 1.4.2025) by The Reporting on Payment Practices and Performance (Amendment) Regulations 2025 (S.I. 2025/75), regs. 1(2)(4), 7

Notes on Schedule 2

Modifications

C1: Sch. 2 modified (in relation to each financial year of a limited liability partnership beginning on or after 1.4.2025) by The Limited Liability Partnerships (Reporting on Payment Practices and Performance) Regulations 2017 (S.I. 2017/425), reg. 10A (as inserted by S.I. 2025/75, regs. 1(2)(5), 8(3))