28 3 C ost shar i ng F orm ul a A s soon a s a pr e l i m i na r y a ss e ss m e nt of t he a va i l a bl e da t a ha s be e n c o nduc t e d a de t a i l e d e st i m a t e of t he t ot a l c ost sha l l be e st a bl i she d T he c ost sha r i ng be t w e e n t he pa r t i c i pa nt s w i l l be c a r r i e d out on t he ba si s of a c om bi na t i on of a f i x e d f e e pe r c a pi t a a n d a va r i a bl e f e e T h e G e ne r i c C ost s sha l l be c o ve r e d b y a f i x e d f e e e qua l sh a r e s p e r c a pi t a a nd t he T e c hni c a l W or ki ng G r oup C ost s sha l l be c ove r e d up t o 50 b y a f i x e d f e e e qua l sh a r e s p e r c a pi t a a nd t h e 50 l e f t b y a v a r i a bl e f e e l i nke d t o t he t onna ge s pr oduc e d a nd o r i m por t e d i nt o t he E E A m a r ke t ove r t h e l a st t hr e e y e a r s 4 I nv oi c i ng P ay m e nt s and L at e P ay m e nt P e nal t i e s T he Me m be r s sha l l sha r e t he c ost s of t he C onsor t i um b y m e a ns of a sub sc r i pt i on a ppr ove d a nnua l l y b y t he A ss e m b l y on pr oposa l s f r om t h e S e c r e t a r i a t a c c or di n g t o t he bud g e t T he f i na nc i a l y e a r sha l l e x t e nd f r om 1st J a nua r y t o 31s t D e c e m be r of e a c h c a l e n da r y e a r I nvoi c i n g sh a l l be pe r f or m e d b y t he T r ust e e o f t he C onsor t i um I nvoi c e s sha l l be s e nt e v e r y 6 si x m ont hs i n J a nua r y a nd i n J ul y t o t he Me m be r s b y e m a i l a nd b y r e g i st e r e d post t o t he a ddr e ss spe c i f i e d b y t he Me m b e r i n i t s S i g na t ur e f ol i o or ot he r w i se upda t e d t o t he S e c r e t a r i a t A t r a nsi t or y r e g i m e sha l l be a ppl i e d i n 2008 f or t he f i r st i nvoi c e s T he T r ust e e sha l l i m m e di a t e l y e l e c t r o ni c a l l y not i f y t he nom i na t e d R e pr e se nt a t i ve of t he Me m be r on suc h i nvoi c i ng I n t he e v e nt t he R e pr e se nt a t i ve h a s not r e c e i v e d t he e l e c t r oni c not i f i c a t i on on t i m e unl e ss pr e vi ousl y a dvi se d of t he de l a y b y t he S e c r e t a r i a t t he R e pr e se nt a t i ve sh a l l pr om pt l y i nf o r m t he T r ust e e I nvoi c e s f or pl ur i a nnua l budg e t s a nd t he i nvoi c e s f or i nc r e a se of bud g e t sha l l be se nt b y t he S e c r e t a r i a t a nd or t he T r ust e e t o t he r e l e va nt Me m be r s w i t hi n f i f t e e n 15 d a y s of t he i r a ppr ova l b y t he A ss e m bl y Me m be r s sha l l pa y t h e i r due sum t o t he ba nk a c c o unt num be r spe c i f i e d i n t he i nvoi c e not l a t e r t ha n 2 t w o m ont hs a f t e r r e c e pt i on of t h e i nvoi c e A r e m i nde r w i l l be se nt b y t he T r ust e e be f or e t h e e x pi r y of t h e t w o m ont h pe r i od I f t h e pa y m e nt i s m a de a f t e r t ha t pe r i od t he i nt e r e st r a t e a s pe r t he L ondo n I nt e r ba nk O f f e r e d R a t e L I B O R sha l l be m ont hl y a dd e d t o t he du e sum a nd pa y m e nt sha l l be c om e i m m e di a t e T he B r e a c hi n g Me m be r w i l l ha ve no vot i ng r i ght unt i l pa y m e nt ha s be e n r e c e i v e d I f a n i nvoi c e i s not r e c e i ve d b y a Me m b e r w i t hi n f or t y f i v e 45 d a y s f r o m t he be g i nni n g o f t he f i na nc i a l y e a r or w he r e r e l e va nt one 1 m ont h a f t e r t he a dopt i on of a pl ur i a nnua l bud g e t a ppl i c a bl e t o t ha t Me m be r or t he a dopt i on of a n i nc r e a s e of budge t t he Me m be r sha l l not i f y