56Increase in penalty etc.
In section 47 of the [1974 c. 47.] Solicitors Act 1974 (powers of Solicitors Disciplinary Tribunal)—
(a)in subsection (2)(c) (payment by solicitor of penalty) for " £750 " there shall be substituted " £3,000 "; and
(b)the following subsections shall be added after subsection (3)—
“(4)If it appears to the Lord Chancellor that there has been a change in the value of money since the relevant date, he may by order made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament substitute for the sum for the time being specified in subsection (2)(c) above such other sum as appears to him to be justified by the change.
(5)In subsection (4) above " the relevant date " means—
(a)in relation to the first order under that subsection, the date of the coming into force of section 56 of the Administration of Justice Act 1982; and
(b)in relation to each subsequent order, the last occasion when the sum specified in subsection (2)(c) above was altered.”.