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The Qualifications Wales (Monetary Penalties) (Determination of Turnover) Regulations 2019
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- Wales Statutory Instruments
- 2019 No. 796 (W. 149)
- Regulation 4
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Determination of turnover for the purposes of regulation 3
4.—(1) Where the preceding business year is a period of 12 months, the turnover of an awarding body is the body’s applicable turnover for the entire preceding business year.
(2) Where the preceding business year did not equal 12 months, the turnover is the awarding body’s applicable turnover for that business year divided by the number of months in that business year and multiplied by 12.
(3) Where there was no preceding business year, the turnover is the applicable turnover for the 12 months ending on the last day of the month preceding the month in which the date of the notice falls.
(4) Where in the application of paragraph (3) the awarding body has turnover for a period of less than 12 months, the turnover is the applicable turnover in that period divided by the number of months in that period and multiplied by 12.
(5) In this regulation—
“applicable turnover” has the meaning given in regulation 5.
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