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Amendment of Schedule 1 (Producers)

12.—(1) In Schedule 1–

(a)for paragraph 3(a) substitute–

(a)that person’s turnover in the last financial year in respect of which audited accounts are available before the relevant date was more than £2,000,000; and; and

(b)for paragraph 4(1)(c) substitute–

(c)“relevant date” means–

(i)7th April in the obligation year; or

(ii)where an application for registration is made in a circumstance set out in regulation 6(3), or as required by paragraph 11 of Schedule 9, the date of the application..