Regulation 4 Additional payments to Northern Ireland milk producers

United Kingdom

(1)

The Secretary of State must make an additional payment to every Northern Ireland milk producer (“the Northern Ireland additional payment”) using the following formula—

$N P = \frac{N I U}{N I T P} \times L P$

where—

“NP” is the Northern Ireland additional payment;
“NIU” is the Northern Ireland uplift;
“NITP” is the total volume in litres of milk and milk equivalent produced and marketed in Northern Ireland during the 2014-2015 milk quota year;
“LP” is the total volume of milk and milk equivalent notified to the Department of Agriculture and Rural Development as having been produced and marketed by that milk producer during the 2014-2015 milk quota year.

(2)

The Secretary of State may make the Northern Ireland additional payment in pounds sterling after applying the operative exchange rate or in euro.