SCHEDULE 1CALCULATION OF RESALE ROYALTY

Regulation 3(3)

1.

The resale royalty payable on the sale of a work shall be the sum of the following amounts, being percentage amounts of consecutive portions of the sale price—

Portion of the sale price

Percentage amount

From F1£0 to £50,000

4%

From F2£50,000.01 to £200,000

3%

From F3£200,000.01 to £350,000

1%

From F4£350,000.01 to £500,000

0.5%

Exceeding F5£500,000

0.25%

2.

However, the total amount of royalty payable on the sale shall not in any event exceed F6£12,500.