Before the end of each financial year, having calculated in accordance with section F486A the inflation-adjusted level of each relevant figure F5...the Scottish Ministers must bring forward legislation to replace any relevant figure F6... which is, in their opinion, materially below its inflation-adjusted level with a figure of at least that level (subject to any rounding they think appropriate).

The reference in subsection (1) to bringing forward legislation to replace a figure is a reference to laying before the Scottish Parliament for approval by resolution a draft Scottish statutory instrument containing regulations that would have the effect of replacing the figure.

If the Scottish Parliament approves a draft instrument laid before it by the Scottish Ministers in fulfilment of their duty under subsection (1), the Ministers must make the regulations contained in the draft instrument.

In this section F8... “relevant figure” is to be construed in accordance with section F986A(3).