The contributions of a College under Statute G, II, 16 shall be calculated according to the following rules:
Each year the total of the contributions of the Colleges shall equal the sum of the net payment for the year, as notified by the Finance Committee, from the Colleges Fund of the costs of the University under Statute G, II, 10 and 11 and £3,000,000 multiplied by the multiplier for that year.
The multiplier shall be equal to the ratio of the value of an index six months immediately preceding the valuation date to its value in July 2005, that index to be determined by the University reflecting general economic circumstances.
In each year the assessable amount of a College shall be divided into bands. The first band shall comprise the assessable amount of the College up to 1.25% of the sum of the assessable amounts of all the Colleges for that year. The second band shall comprise the assessable amount of the College between 1.25% of that sum and the average assessable amount of all the Colleges. The third band shall comprise the assessable amount of the College in excess of that average.
No contribution shall be payable on the first band. The rate of contribution payable on the third band shall be twice that payable on the second band.