3.—(1) The Artist’s Resale Right Regulations 2006(1) are amended as follows.
(2) In regulation 3(4) (artist’s resale right: calculation of sale price), omit “, and converted into euro at the European Central Bank reference rate prevailing at the contract date”.
(3) In regulation 12(3)(b) (“resale”: minimum sale price), for “1000 euro” substitute “£1,000”.
(4) In regulation 12(4)(b) (“resale”: minimum sale price for works recently acquired directly from author), for “10,000 euro” substitute “£10,000”.
(5) In Schedule 1 (calculation of resale royalty)—
(a)in paragraph 1, in the table—
(i)for “0 to 50,000 euro” substitute “£0 to £50,000”;
(ii)for “50,000.01 to 200,000 euro” substitute “£50,000.01 to £200,000”;
(iii)for “200,000.01 to 350,000 euro” substitute “£200,000.01 to £350,000”;
(iv)for “350,000.01 to 500,000 euro” substitute “£350,000.01 to £500,000”;
(v)for “500,000 euro” (in the second place those words occur) substitute “£500,000”;
(b)in paragraph 2, for “12,500 euro” substitute “£12,500”.
S.I. 2006/346, to which there are amendments not relevant to these Regulations.