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Savings (Government Contributions) Act 2017

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This is the original version (as it was originally enacted).

4Regulations

(1)Any power to make regulations under this Act is exercisable by statutory instrument.

(2)A statutory instrument containing (whether alone or with other provision)—

(a)the first regulations under section 1(5),

(b)the first regulations under any of paragraphs 4, 7(1)(a), 7(3), 7(4), 7(5), 8(2), 8(7) and 11 of Schedule 1,

(c)regulations under paragraph 17(5) of Schedule 1 which result in a specified amount being increased,

(d)regulations under paragraph 3(6)(a) of Schedule 2 which result in the maturity period being shortened,

(e)the first regulations under any of paragraphs 3(7), 5(1), 6(1), 7(2), 10(1)(b), 15(2) and 16 of Schedule 2, or

(f)regulations under paragraph 10(2) of Schedule 2 which result in the maximum monthly amount being decreased,

is not to be made unless a draft of the instrument has been laid before, and approved by a resolution of, the House of Commons.

(3)A statutory instrument which—

(a)contains regulations under this Act, and

(b)is not subject to a requirement that a draft of the instrument be laid before, and approved by a resolution of, the House of Commons,

is subject to annulment in pursuance of a resolution of the House of Commons.

(4)Subsection (3) does not apply to regulations under section 6(3).

(5)For the purposes of subsection (2)(b), regulations under paragraph 2(2) of Schedule 1 that could be made under a provision listed in subsection (2)(b) are treated as regulations under that provision.

(6)Regulations under this Act may—

(a)apply generally or only in specified cases or circumstances;

(b)make different provision for different cases or circumstances;

(c)include consequential, supplementary or incidental provision;

(d)include transitory or transitional provision or savings.

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