Citation and commencement

1. This Order may be cited as the Office of Qualifications and Examinations Regulation (Determination of Turnover for Monetary Penalties) Order 2012 and comes into force on the day after the day on which it is made.

Interpretation

2. In this Order—

“the Act” means the Apprenticeships, Skills, Children and Learning Act 2009;

“business year” means a period of more than six months in respect of which a recognised body publishes accounts or, if no such accounts have been published for the period, prepares accounts;

“date of the notice” means the date on which Ofqual gives notice to a recognised body under section 151A(4) of the Act of its intention to impose a monetary penalty on the recognised body.

Calculation of turnover

3. —(1) For the purposes of these Regulations, the turnover of a recognised body( 3 ) is the sum of—

(a) all amounts derived by the body from the provision of goods and services falling within the body’s ordinary activities in the United Kingdom; and

(b) all other amounts received by the body in the course of the body’s ordinary activities in the United Kingdom by way of gift, grant, subsidy or membership fee,

after deduction of trade discounts, value added tax and other taxes based on the amounts so derived or received.

(2) The amounts are to be calculated in conformity with generally accepted accounting principles in the United Kingdom.

Determination of turnover for the purposes of section 151B(1) of the Act

4. —(1) Subject to the following paragraphs, for the purposes of section 151B(1) of the Act the turnover of a recognised body is the body’s turnover for the business year preceding the date of the notice.

(2) Where the business year preceding the date of the notice does not equal twelve months, the turnover is the turnover in that business year divided by the number of months in that business year and multiplied by twelve.

(3) Where there is no preceding business year, the turnover is the turnover for the twelve months ending on the last day of the month preceding the month in which the date of the notice falls.

(4) Where in the application of paragraph (3), the recognised body has turnover for a period of less than twelve months the turnover is the turnover in that period divided by the number of months in that period and multiplied by twelve.