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5. The amount of the general levy payable for a financial year by virtue of regulation 2(1) in respect of a scheme with the number of members on the reference day that is specified in column 1 of the following Table is –
(a)the amount specified for such a scheme in column 2 of the Table (where M is the number of the scheme’s members on the reference day); or
(b)if no amount is so specified or an amount which is greater is specified for such a scheme in column 3 of the Table, the amount specified for such a scheme in column 3.
| Column 1 | Column 2 | Column 3 |
|---|---|---|
| Number of members on the reference day | Amount of levy calculated by reference to number of members (M) | Minimum amount of levy |
| 2 to 11 | £24 | |
| 12 to 99 | £2·50 × M | |
| 100 to 999 | £1·80 × M | £250 |
| 1,000 to 4,999 | £1·40 × M | £1,800 |
| 5,000 to 9,999 | £1·06 × M | £7,000 |
| 10,000 or more | £0·74 × M | £10,600 |
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