Part 3Other benefit changes
Social fund
72Determination of amount or value of budgeting loan
(1)
Section 140 of the Social Security Contributions and Benefits Act 1992 (principles of determination) is amended as follows.
(2)
In subsection (4), after paragraph (d) there is inserted—
“(da)
that the amount or value of a budgeting loan is not to exceed a sum specified or determined as specified in the direction;”.
(3)
After subsection (4) there is inserted—
“(4ZA)
A direction under subsection (4)(da) may require the sum to be determined by applying, or by a method that includes applying, a multiplier specified in the direction in circumstances specified in the direction to the most recent relevant sum published by the Secretary of State.
(4ZB)
A relevant sum is a sum determined from time to time by reference to so much of any relevant allocation under section 168(1) to (4) of the Administration Act as is available for making payments.”