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In force since 2014-11-28, as the publisher states.
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Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.
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2014 No. 2904 Payment Scheme The Diffuse Mesothelioma Payment Scheme (Levy) Regulations 2014 Made 3rd November 2014 Laid before Parliament 7th November 2014 Coming into force 28th November 2014 The Secretary of State, in exercise of the powers conferred by section 13 and section 17(4) of the Mesothelioma Act 2014, makes the following Regulations.
Propose a change(1) These Regulations may be cited as the Diffuse Mesothelioma Payment Scheme (Levy) Regulations 2014. (2) These Regulations come into force on 28th November 2014. (3) In these Regulations— “a financial year” means the 12 month period ending with the 31st March in any year; “individual gross written premium” means the sum, before commission and the cost of reinsurance are taken out, of all employers’ liability insurance premiums written in a calendar year by an individual active insurer; “reference period” has the meaning given in regulation 3; “the payment amount” means the share of the total amount of the levy that an active insurer is required to pay; “the scheme” means the Diffuse Mesothelioma Payment Scheme established by the Diffuse Mesothelioma Payment Scheme Regulations 2014; “total amount of the levy” means an annual sum decided by the Secretary of State under section 13 of the Mesothelioma Act 2014 in each financial year with a view to meeting the costs of the scheme; “total gross written premium” means the sum, before commission and the cost of reinsurance are taken out, of all employers’ liability insurance premiums written in a calendar year by all active insurers.
Propose a change(1) An active insurer is required to pay a share of the total amount of the levy based on that insurer’s relative market share in the reference period as determined in accordance with regulation 4. (2) The requirement in paragraph (1) is a requirement— (a) to pay the Secretary of State the payment amount specified in the notice under regulation 5(1) in accordance with the notice under regulation 5(2); and (b) subject to details given in a notice under regulation 5(2)(a), to pay the payment amount by the end of a financial year in respect of which the Secretary of State decides the total amount of the levy.
Propose a change(1) The reference period is a 12 month period ending on 31st December falling in a financial year. (2) The reference period for the payment amount for the first financial year ends on 31st December 2014. (3) In this regulation the “first financial year” means the year ending 31st March 2015.
Propose a change(1) An active insurer’s relative market share in the reference period is determined in accordance with paragraph (2) and the payment amount an active insurer must pay is determined in accordance with paragraphs (3) to (5). (2) For the purpose of these Regulations, relative market share in the reference period is to be treated as if it were the same as the relative market share for the calendar year two years before the reference period. (3) The payment amount an active insurer must pay in a financial year is to be determined by multiplying the total amount of the levy for that financial year by the figure for their relative market share for the calendar year two years before the reference period. (4) In this regulation “relative market share for the calendar year two years before the reference period” means A divided by B where— (a) “A” equals the individual gross written premium for that calendar year; (b) “B” equals the total gross written premium attributable to the active insurer whose individual gross written premium has been ascertained for the purpose of “A”. (5) In paragraph (4) where “A” cannot be ascertained, an active insurer’s relative market share for the calendar year two years before the reference period is nil.
Propose a change(1) The Secretary of State must notify active insurers in writing of the payment amount due from them. (2) The Secretary of State must also notify active insurers in writing of— (a) the date or dates in the financial year by which the payment amount is required; and (b) details of how the payment amount can be made. (3) The Secretary of State must give active insurers sufficient information to enable them to determine how the payment amount in their case was calculated. (4) In particular the Secretary of State may give each active insurer information concerning— (a) the basis on which they are considered to be an active insurer; (b) the action the Secretary of State may take if the payment amount is not made in accordance with the notice under paragraphs (1) and (2). (5) The Secretary of State must publish annually the costs of the scheme and must in particular publish information on— (a) the costs of payments made under the scheme; (b) the costs of administering the scheme; and (c) any costs incurred by the Secretary of State in establishing a body to administer the scheme.
Propose a changeIf the payment amount notified to an active insurer is not paid in accordance with the notices under regulation 5(1) and (2), the payment amount, or any part of it, which has not been paid, is recoverable as a debt due to the Secretary of State.
Propose a change