Article 6 Levies

(1)

The Welsh Levy Board may impose a levy to enable it to provide services for each industry covered by this Order, and Schedule 3 has effect.

(2)

All figures in that Schedule exclude VAT.

(3)

The levies are to enable the Welsh Levy Board to—

(a)

cover its costs in providing any of the services specified in Schedule 1;

(b)

meet its administrative expenses;

(c)

further a purpose in article 3(2);

(d)

establish a reserve fund.

(4)

If the rate of levy (and any higher rate for late payment of the levy) exceeds the appropriate rate set out at paragraph 1(8) of Schedule 3 Part 2 of this Order such rate of levy (and any higher rate for late payment of the levy) must be approved in advance by the Welsh Ministers.

(5)

The Welsh Levy Board may delegate the collection of levy to a subsidiary company or a nominated company.

(6)

Levy raised in relation to an industry may only be used in relation to that industry.