1. Additional Amount
1.1 When the net asset value of the AIF under management exceeds €250,000,000, an AIFM must provide an additional amount of capital equal to 0.02% of the amount by which the net asset value exceeds €250,000,000 ("Additional Amount").
1.2 An AIFM need not provide up to 50% of the Additional Amount if:
(i) it benefits from a guarantee of the same amount given by a credit institution or insurance undertaking; and
(ii) the form of guarantee has been approved by the Central Bank.
1.3 The total of the Initial Capital Requirement and the Additional Amount required to be held by an AIFM is not required to exceed €10,000,000.
1.4 An AIFM shall provide the total of its assets under management at each reporting date with its assessment of whether it is required to provide the Additional Amount.
2. Expenditure Requirement
2.1 The Expenditure Requirement is calculated as one quarter of an AIFM's total fixed expenditure taken from the most recent annual accounts.