- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
16.—(1) A bidder’s eligibility limit for the first principal stage round shall be—
(a)where the amount which the bidder has on deposit (including the initial deposit and the additional deposit) is less than four million pounds, the number which is the amount of such deposit in pounds divided by one million;
(b)where the amount which the bidder has on deposit (including the initial deposit and the additional deposit) is equal to or more than four million pounds but less than four hundred and eighty four million pounds, the number (E) which is calculated in accordance with the formula set out in paragraph (2); and
(c)where the amount which the bidder has on deposit (including the initial deposit and the additional deposit) is equal to or more than four hundred and eighty four million pounds but less than one billion and eighty four million pounds, the number (F) which is calculated in accordance with the formula set out in paragraph (3); and
(d)where the amount which the bidder has on deposit (including the initial deposit and the additional deposit) is equal to or more than one billion and eighty four million pounds, fifty two.
(2) The formula is E= 4 + [(D - 4,000,000])/(20,000,000)], where “D” is the amount of the deposit in pounds.
(3) The formula is F = 28 + 4 x [(D - 484,000,000)/(100,000,000)], where “D” is the amount of the deposit.
(4) Where the number which results from the calculation in paragraphs (1)(a), to (1)(d) is not a whole number, the bidder’s eligibility limit shall be that number rounded down to the nearest whole number.
(5) That number shall be expressed as a number of points.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: