SCHEDULES
F1SCHEDULE 1ADetermination of the fixed net sum
6
1
Unless the Lord Chancellor otherwise determines, an order under paragraph 3(1) must specify the amount given by paragraph 7(2) or (as the case requires) 7(3).
2
If the Lord Chancellor does otherwise determine—
a
an order under paragraph 3(1) may provide for the fixed net sum to be of any amount (including an amount equal to or lower than the previous amount), and
b
the Lord Chancellor must prepare a report stating the reason for the determination.
3
A statutory instrument containing an order under paragraph 3(1) that specifies an amount other than that mentioned in sub-paragraph (1) of this paragraph may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.
4
The Lord Chancellor must lay the report before Parliament no later than the date on which the draft of the instrument containing the order is laid before Parliament.
Sch. 1A inserted (1.10.2014) by Inheritance and Trustees' Powers Act 2014 (c. 16), ss. 2(1), 12(2), Sch. 1 (with s. 12(4)); S.I. 2014/2039, art. 2