6Amount of run‑off cover support payment

6 Amount of run‑off cover support payment

(1) The amount of the run‑off cover support payment imposed on a medical indemnity insurer for a contribution year is the applicable percentage of the insurer’s premium income for: (a) the period of 12 months ending on 31 May in the contribution year; or (b) such other period as is specified in the regulations. (2) The applicable percentage is: (a) 15%; or (b) such lower percentage as is specified in the regulations for the contribution year. (3) Regulations made for the purposes of paragraph (1)(b) may specify a different period for a particular medical indemnity insurer or class of medical indemnity insurers. If they do so, the reference in subsection (1) to the period is taken, in its application to that insurer or to an insurer of that class, to be a reference to that period for that insurer or class. (4) Regulations made for the purposes of paragraph (2)(b) may specify a different applicable percentage for a particular medical indemnity insurer or class of medical indemnity insurers. If they do so, the reference in subsection (1) to the applicable percentage is taken, in its application to that insurer or to an insurer of that class, to be a reference to that percentage for that insurer or class.