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10. In paragraph 2 of Schedule 5 to the principal Regulations (waiver, reduction or refund of capital fees)—
(a)in sub-paragraph (1), for “sub-paragraph (2),” there shall be substituted “sub-paragraphs (1A) and (2) below,”;
(b)after sub-paragraph (1) the following sub-paragraph shall be inserted—
“(1A) Where paragraph (1)(a) applies and the fee otherwise payable under regulation 4(a), 7(a) or 10 exceeds £15,000, the amount of the refund or the amount waived shall be the difference between that fee and £1,500, rather than 90% of that fee.”.
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