Initial fees E+W

2.—(1) Where an institution's date of entry in the register is before 1st August 2019, no initial fee is payable.

(2) Where an institution's date of entry in the register is on or after 1st August 2019, subject to regulation 4, an initial fee is payable.

(3) Subject to regulations 5 and 6, the initial fee payable is—

Where—

OF is the ongoing fee which would be payable by the institution in accordance with regulation 3 if that institution's initial registration year was to be treated as an ongoing registration year; and

M is the number of complete months within the period beginning with the institution's date of entry in the register and ending with 31st July in its initial registration year.

(4) Subject to regulation 10(2), an initial fee is to be paid by an institution within the payment period specified in accordance with regulation 9(2)(b)(i) in a notice given to it under regulation 9(1).

Commencement Information

I1 Reg. 2 in force at 6.4.2019, see reg. 1(1)