For the purposes of regulation 33(b), the compensation payable to the holder of a registered financial interest in an access licence must be—
(a) determined in accordance with the financial interest expressed as a dollar amount and declared by the holder of the financial interest and agreed to by the holder of the access licence on the application for compensation form; and
(b) assessed as a component of item Y in the formula set out in regulation 34 or 35 (as the case requires).