130Cap on individual claims
This section has no associated Explanatory Notes
In Schedule 3 to the 1980 Act—
(a)in paragraph 4, after sub-paragraph (3) insert—
“(3A)The amount of an individual grant from the Guarantee Fund may not exceed £1.25 million.”,
(b)after paragraph 4 insert—
“5(1)The Scottish Ministers may by regulations amend the sum specified in paragraph 4(3A).
(2)Before making regulations under sub-paragraph (1), the Scottish Ministers must consult the Council (and take account of sections 4 and 5 of the 2010 Act).
(3)The power to make regulations under sub-paragraph (1) is exercisable by statutory instrument; but a statutory instrument containing any such regulations is not to be made unless a draft of the instrument has been laid before, and approved by resolution of, the Scottish Parliament.”.