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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Order)

Each financial year the Sovereign Grant is paid by the Treasury to Her Majesty. The amount of Sovereign Grant is determined in accordance with a formula in section 6(1) of the Sovereign Grant Act 2011 and is linked to the profits of the Crown Estate.

This Order amends section 6(1) of the Sovereign Grant Act 2011 so that the percentage specified in Step 1 of that section (being a percentage of the profits of the Crown Estate) is changed from 15% to 25%.

An impact assessment has not been prepared for this instrument because no impact on the private or voluntary sectors is foreseen.