§  69.606   Computation of average schedule company payments.

   (a) Payments shall be made in accordance with a formula approved or
   modified by the Commission. Such formula shall be designed to produce
   disbursements to an average schedule company that simulate the
   disbursements that would be received pursuant to § 69.607 by a company
   that is representative of average schedule companies.

   (b) The association shall submit a proposed revision of the formula for
   each annual period subsequent to December 31, 1986, or certify that a
   majority of the directors of the association believe that no revisions
   are warranted for such period on or before December 31 of the preceding
   year.

   (47 U.S.C. 154 (i) and (j), 201, 202, 203, 205, 218 and 403 and 5
   U.S.C. 553)

   [ 48 FR 10358 , Mar. 11, 1983, as amended at  50 FR 41356 , Oct. 10, 1985;
    55 FR 6990 , Feb. 28, 1990]