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Corporate Insolvency and Governance Act 2020

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47Power to make consequential provision

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(1)The Secretary of State or the Treasury may by regulations make provision that is consequential on this Act.

(2)The power in subsection (1) may, in particular, be used to amend, repeal, revoke or otherwise modify any provision of this Act or any provision made by or under primary legislation passed or made—

(a)before this Act, or

(b)later in the same session of Parliament as this Act.

(3)But the power to amend or repeal any provision made by this Act may not be used after the period of 3 years beginning with the day on which it is passed.

(4)Regulations under this section—

(a)may make different provision for different purposes;

(b)may include transitional or transitory provision or savings.

(5)Regulations under this section are to be made by statutory instrument.

(6)A statutory instrument containing regulations under this section that amend or repeal provision made by primary legislation (whether alone or with other provision) may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.

(7)Any other statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of either House of Parliament.

(8)In this section “primary legislation” means—

(a)an Act,

(b)an Act or Measure of Senedd Cymru,

(c)an Act of the Scottish Parliament, or

(d)Northern Ireland legislation.

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