Moved by
Lord Davies of Brixton
26: Clause 80, page 56, line 3, leave out “(2) and (3)” and insert “(1A) to (3).
(1A) In subsection (3), for “directions” substitute “regulations” .
(1B) In subsection (4), for “directions” substitute “regulations” and delete paragraph (c).”
Member’s explanatory statement
This amendment requires the calculation of the employer cost cap to be set in accordance with Treasury regulations, rather than Treasury directions. It also removes from the calculation the effect of changes in the cost of connected schemes.