12.—(1) Paragraph (2) applies where the Secretary of State identifies before the end of a membership year that the amount determined under regulation 10(1) as being payable by the member in respect of that year—
(a)is incorrectly calculated;
(b)is determined by reference to information which was incorrect; or
(c)ought to be reconsidered in light of further information that has become available to the Secretary of State.
(2) The Secretary of State—
(a)must reconsider the amount determined; and
(b)at any time before the end of the membership year in question, may revise the amount payable by the member in respect of that year.
(3) The Secretary of State must give the member notice in writing of any revised amount determined under paragraph (2)(b).
(4) Where the revised amount determined under paragraph (2)(b) is higher than the original amount, the member must pay the difference in respect of the membership year—
(a)in accordance with such arrangements as may be agreed between the Secretary of State and the member (which may include payment in instalments to be made at agreed times); and
(b)if no agreement is reached by the end of the membership year, by such time and in such manner as the Secretary of State may determine.
(5) Where the revised amount determined under paragraph (2)(b) is lower than the original amount the member’s remaining payments for that membership year will be reduced to account for the revised amount and are to be paid in accordance with any arrangements that have been, or may be, agreed between the Secretary of State and the member.
(6) The reference in paragraph (1) to an amount determined by the Secretary of State under regulation 10(1) includes any revised amount determined under paragraph (2)(b).