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3.—(1) Subject to paragraphs (2) to (4), for the purposes of section 22A(11) of the Act, the turnover of a company shall be the applicable turnover for the preceding business year.
(2) Where the preceding business year is more or less than twelve months, the turnover shall be the applicable turnover in that business year divided by the number of months in that business year and multiplied by twelve.
(3) Where there is no preceding business year, the turnover shall be the applicable turnover for the relevant year.
(4) For the purposes of paragraph (3), where the period for which the company held—
(a)an appointment as a relevant undertaker, or
(b)a water supply licence,
during the relevant year was less than twelve months, the turnover shall be the applicable turnover in that period divided by the number of months in that period and multiplied by twelve.
(5) In paragraphs (3) and (4), “the relevant year” means the twelve months ending on the last day of the month preceding the month in which the date of the notice falls.
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