Modifications etc. (not altering text)
C1Sch. 38 applied by S.I. 2009/470, reg. 33(1) (as substituted (6.4.2013) by The Education (Student Loans) (Repayment) (Amendment) Regulations 2013 (S.I. 2013/607), regs. 1(1), 9)
C2Sch. 38 applied (with application in accordance with reg. 1(2) of the amending S.I.) by The Social Security (Contributions) (Amendment and Application of Schedule 38 to the Finance Act 2012) Regulations 2013 (S.I. 2013/622), regs. 1, 41
35(1)If it appears to the Treasury that there has been a change in the value of money since the last relevant day, they may by regulations substitute for the sums for the time being specified in paragraphs 22(1), 23, 26(2), 27(1) and (2)(a) and 28(3) such other sums as appear to them to be justified by the change.U.K.
(2)“Relevant day”, in relation to a specified sum, means—
(a)the day on which this Act is passed, and
(b)each day on which the power conferred by sub-paragraph (1) has been exercised in relation to that sum.
(3)Regulations under this paragraph do not apply to a failure or conduct that began before the day on which they come into force.
(4)The power to make regulations under this paragraph is exercisable 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.
Commencement Information
I1Sch. 38 para. 35 in force at 1.4.2013 by S.I. 2013/279, art. 2