(1) Where the available financial means of the Fund are not sufficient to cover losses, costs or other expenses incurred by the Fund, the designated authority shall raise extraordinary ex-post contributions from authorised credit institutions to cover such losses, costs or other expenses in excess of the available financial means.

(2) Extraordinary ex-post contributions shall be set at a level not exceeding 0.5% of the covered deposits of the credit institutions in the calendar year in which they are paid.

(3) Subject to paragraphs (4) and (5), the designated authority may in exceptional circumstances and with the consent of the competent authority require higher contributions than those contempated under paragraph (2).

(4) The maximum extraordinary ex-post contributions that can be required in the extraordinary circumstances referred to in paragraph (3) is twice the level set out in paragraph (2).

(5) The exceptional circumstances under paragraph (3) shall only apply where a higher contribution is necessary in order to repay a loan to the Fund which has been advanced in order to cover a shortfall within a prescribed period of time.