PART II ADMINISTRATION AND PPF OMBUDSMAN LEVIES

7 Schemes eligible for only part of the financial year
1 This regulation applies if a scheme that is not an eligible scheme at the beginning of a financial year becomes such a scheme during that year.
2 The amount of each of the levies payable in respect of the scheme for that year is such proportion of the full amount so payable as the period beginning with the date on which it becomes such a scheme and ending with the end of the financial year bears to the whole financial year.