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The Financial Assistance Scheme (Revaluation and Indexation Amendments) Regulations 2011
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- UK Statutory Instruments
- 2011 No. 839
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EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations amend the Financial Assistance Scheme Regulations 2005 to provide for:
(a)revaluation in respect of periods which run from 31st March 2011 to be determined in accordance with any rise in the general level of prices in Great Britain;
(b)indexation on assistance payments from 1st January 2012 to be calculated in accordance with any rise in the general level of prices in Great Britain; and
(c)the cap on the amount which a beneficiary can receive in total from the Financial Assistance Scheme and any annuity to be increased annually in accordance with any rise in the general level of prices in Great Britain.
The general level of prices in Great Britain is to be estimated in such manner as the Secretary of State thinks fit and the Secretary of State is to publish the manner of estimating the general level of prices periodically.
Prior to these amendments, revaluation, indexation and the cap were calculated in accordance with the retail prices index. The retail prices index remains the means by which revaluation in respect of periods falling before 31st March 2011 will be calculated.
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