SCHEDULES

SCHEDULE 49Powers to obtain contact details for debtors

Power to change amount of penalty

6

1

If it appears to the Treasury that there has been a change in the value of money since the last relevant date, they may by regulations substitute for the sum for the time being specified in paragraph 5 such other sum as appears to them to be justified by the change.

2

In sub-paragraph (1) “relevant date” means—

a

the date on which this Act is passed, and

b

each date on which the power conferred by that sub-paragraph has been exercised.

3

Regulations under this paragraph do not apply to any failure which began before the date on which they come into force.

4

Regulations made by the Treasury under this paragraph are to be made by statutory instrument.

5

A statutory instrument containing regulations under this paragraph is subject to annulment in pursuance of a resolution of the House of Commons.