76Contribution on discharge licence

76 Contribution on discharge licence

76 Contribution on discharge licence

(1) For the purposes of this Part, the contribution payable by a person on a discharge licence held by the person at the start of the scheme year is calculated as follows:

Where:

DL is the contribution payable by the person on a discharge licence held by the person 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.

TL is the total number of discharge licences held by participants in the scheme at the start of the scheme year.

(2) For avoidance of doubt, if more that one discharge licence is held by a person, a contribution is payable under this clause in respect of each of those discharge licences.

cl 76: Am 2016 (775), Sch 1 [63].