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Law Reform (Miscellaneous Provisions) (Scotland) Act 1980
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7Amendment of Judicial Factors Act 1849
In the [1849 c. 51.] Judicial Factors Act 1849—
(a)section 5 (factor to lodge monies in one of the banks of Scotland) shall be amended as follows—
(i)for the words "fifty pounds" in both places where they occur there shall be substituted the words " five hundred pounds "; and
(ii)that section as amended by sub-paragraph (i) above shall be subsection (1) of that section, and after that subsection there shall be added the following subsections—
“(2)The Secretary of State may by order made by regulations amend subsection (1) above by substituting for any sum for the time being specified in that subsection such other sum as appears to him to be justified by a change in the value of money.
(3)The power to make regulations under subsection (2) above shall be exercisable by statutory instrument; and no such regulations shall be made unless a draft of them has been approved by resolution of each House of Parliament.”; and
(b)in section 19 (accountant to make requisitions and orders on the factor) for the words " forty-eight hours " there shall be substituted the words " seven days ".
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