S.L. 371.9 Art. 26Management Expenses Contribution.

(1) The Scheme may impose a Management Expenses

Contribution on members in any financial year if it has reasonable grounds to believe that the funds available to it to meet management expenses in that financial year are, or will be, insufficient.

(2) The Scheme shall apply any amount collected from a Management Expenses Contribution to the payment of management expenses, and shall not treat such funds as available financial means of the Scheme.

(3) The competent authority shall by banking rules establish a method (hereinafter referred to as the "Management Expenses Contribution method") for determining the amount of Managements Expenses Contribution due by each member in any financial year: Provided that the competent authority may review or amend any Management Expenses Contribution method.

(4) Notwithstanding any other provision in these Regulations, a member which becomes a member of the Scheme part way through the financial year, shall for the financial year in which it has become a member pay an Initial Management Expenses Contribution amounting to thirty-five thousand euro (€35,000).