The Public Lending Right Scheme 1982 (Commencement) Order 1982

APPENDIX PUBLIC LENDING RIGHT SCHEME 1982 ARRANGEMENT OF SCHEME

PART V CALCULATION AND PAYMENT OF PUBLIC LENDING RIGHT

Determination of the sum due in respect of Public Lending Right

46.—(1) For any financial year, the sum due by way of Public Lending Right in respect of a registered interest to the registered owner thereof shall be ascertained by reference to—

(a) the product of the number of notional loans attributable to that interest (calculated in accordance with paragraph (4)) and 0-5p, and

(b) the aggregate amount of that product and the like products in the case of all other registered interests which initially were registered interests of the same author.

(2) Subject to paragraph (3) the sum so due for the financial year shall be—

(a) except where the following sub-paragraph applies, the product mentioned in paragraph (1)(a);

(b) if the aggregate amount mentioned in paragraph (1)(b) exceeds £5,000, the product of

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where— x is the number of notional loans attributable to the interest in question, andy is the aggregate of that number and the number of notional loans attributable to all other registered interests which initially were registered interests of the same author.

(3) If the amount determined in accordance with paragraph (2) is less than £5, the sum due in respect of the registered interest shall be nil.

(4) For the purposes of paragraphs (1) and (2) (b), the number of notional loans attributable to any registered interest in any financial year shall be calculated by ascertaining, in accordance with Article 42(2), the number of notional loans of the book to which it relates which were made during the sampling year ending in that financial year, and shall be—

(a) if the registered interest represents the whole of the Public Lending Right in respect of that book, the total notional loans of the book in question;

(b) if the registered interest relates only to a share of the Public Lending Right in respect of that book, such proportion of the total notional loans of the book as the registered interest bears to the whole of the Public Lending Right in that book, fractions of a loan being disregarded;

(c) if the Right in respect of that registered interest has been renounced in part, such proportion of the notional loans attributable to the registered interest under sub-paragraph (a) or (b), as the case may be, which the unrenounced share bears to the whole of the registered interest, fractions of a loan being disregarded;

(d) nil, if the Right in respect of the registered interest has been wholly renounced for the financial year in question.

(5) For the purposes of paragraphs (1) and (2)(b), the references to interests which were initially registered interests of the same author include interests which, in pursuance of Article 17(3), were registered in the name of his parent or guardian.