# Finance Act 2016, Paragraph 4


(1) The potential lost revenue threshold is reached where the offshore PLR in relation to a tax year exceeds £25,000.
(2) The Treasury may by regulations change the figure for the time being specified in sub-paragraph (1).
(3) Regulations under sub-paragraph (2) are to be made by statutory instrument.
(4) A statutory instrument containing regulations under sub-paragraph (2) is subject to annulment in pursuance of a resolution of the House of Commons.
(5) Regulations under sub-paragraph (2)—
(a) may make different provision for different purposes;
(b) may contain supplemental, incidental, consequential, transitional and transitory provision.

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Source: https://www.legislation.gov.uk/ukpga/2016/24/schedule/22/paragraph/4 (the official version)
Page: https://openlegislation.uk/finance-act-2016/schedule-22/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.