PART 2The Scheme
Payments into the Scheme
Duty of members to make contributions to the SchemeI111
1
Where a member receives a notice under regulation 10(3) in respect of a membership year, the member must pay—
a
the amount due in respect of the member’s first membership year no later than 8 months after the date on which the Secretary of State receives the member’s application to become a member;
b
the amount due in respect of the member’s second membership year no later than 1st August in that membership year.
2
Where a member receives a notice under regulation 10(3) in respect of its third or a subsequent membership year, the member must pay the amount due—
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 an agreed time); and
b
if no agreement is reached by 1st March immediately before the start of that membership year, by such time and in such a manner as the Secretary of State may determine.
3
For the purposes of paragraph (1), reference to “the first membership year” of a body which is a member of the Scheme is to be construed in accordance with regulation 10(5).