Savings (Government Contributions) Act 2017 section 4

Regulations

Section 4 sets out the parliamentary procedures that apply when the Treasury makes regulations under this Act, and describes the general scope and flexibility of those regulation-making powers.

• All regulations under this Act must be made by statutory instrument.
• Certain significant regulations — including the first regulations for Lifetime ISA government bonuses, key Help to Save account rules, increases to dishonesty penalty amounts, and reductions to the Help to Save maturity period or maximum monthly deposit — require prior approval by the House of Commons (the affirmative procedure).
• All other regulations under the Act (except commencement regulations) are subject to the negative procedure, meaning they take effect unless the House of Commons votes to annul them.
• Regulations may apply generally or to specific cases, make different provision for different circumstances, and include consequential, supplementary, transitional or savings provisions.

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