75Contribution on credit holdings

75 Contribution on credit holdings

75 Contribution on credit holdings

For the purposes of this Part, the contribution payable by a person on the person’s credit holdings at the start of a scheme year is calculated as follows:

Where:

H is the contribution payable by a person on the person’s credit holdings at the start of the scheme year.

TCA is the total contributions amount (calculated under Division 2).

Note—

TCA is multiplied by 0.5 in the formula because half of the total contributions amount is paid by participants in the scheme who are credit holders and the other half is paid by participants in the scheme who are discharge licence holders. Participants who hold both credits and a discharge licence will be liable to contribute both as credit holders and as discharge licence holders.

CH is the number of credits held by the person at the start of the scheme year.

TCH is 1000, minus the number of credits (if any) held by the EPA at the start of the scheme year.

cl 75: Am 2016 (775), Sch 1 [62].