Annual fee period
5 Annual fee period
(1) Subject to subregulation (2)(b), the annual fee period for a scheme is each 12 month period commencing on:
(a) the date on which the scheme commences and each anniversary of that date; or
(b) if subregulation (2)(a) applies – the date as varied and each anniversary of that date.
An occupational association and the Council may, by agreement:
vary the date on which the annual fee period commences; and
(b) vary the length of a particular annual fee period to give effect to the date varied under paragraph (a).
Example for subregulation (2)(b):
A scheme commences on 1 April 2007 and, in February 2008, the occupational association and the Council agree to vary the date the annual fee period commences to 1 July 2008 and each anniversary of that date. There are 2 options to give effect to the new date:
(a) a 12 month annual fee period from 1 April 2007 to 31 March 2008 and a subsequent annual fee period of 3 months from 1 April 2008 to 30 June 2008; or
(b) a 15 month annual fee period from 1 April 2007 to 30 June 2008.
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