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2.ESMA shall calculate the total annual supervisory cost and the annual supervisory fee for a given external reviewer as follows:
(a)the total annual supervisory cost for a given year (n) shall be the estimate of expenditures relating to the supervision of external reviewers’ activities under Regulation (EU) 2023/2631 as included in ESMA’s budget for that year;
(b)an external reviewer’s annual supervisory fee for a given year (n) shall be the total annual supervisory cost determined pursuant to point (a), divided between all external reviewers except those external reviewers that are exempt pursuant to paragraph 1 in year (n), in proportion to their applicable turnover calculated in accordance with Article 3;
(c)the annual supervisory fee charged to an external reviewer shall not represent more than 3 % of its applicable turnover. However, no external reviewer shall pay an annual supervisory fee that is lower than EUR 30000.
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