SCHEDULES

SCHEDULE 12 Provision of services through an intermediary

Part III Supplementary provisions

Multiple intermediaries: avoidance of double-counting

15

(1)

This paragraph applies where a payment or other benefit has been made or provided, directly or indirectly, from one relevant intermediary to another in respect of the engagement.

(2)

In that case, the amount taken into account in relation to any intermediary in Step One or Step Two of the calculation in paragraph 7 shall be reduced to such extent as is necessary to avoid double-counting having regard to the amount so taken into account in relation to any other intermediary.