Section Third Schedule

[See Section 8 (5)]

The average net annual profit in relation to a vehicle authorized to be used under a permit in respect of notified route shall be calculated as follows:- 1. The amount of profits made during a period of two years or during the period for which the permit (including any renewal thereof) was effective, whichever is less, shall be ascertained and the amount of losses sustained during the same period shall also be ascertained. 2. If there are no profits or if the amount of the profit does not exceed the amount of the losses, the average net annual profits shall be taken to be nil. 3. If the amount of the profits exceeds the amount of the losses the excess shall be the net profits. 4. From the net profits so found, the amount of profit for one year shall be ascertained by mathematical calculation and such profit shall be taken to be the average net annual profit.