Section 2 Determination of subsequent amounts of Sovereign Grant by Royal Trustees

As enacted

(1)

In section 6(1) of the Sovereign Grant Act 2011 (determination by Royal Trustees of the amount of Sovereign Grant for a financial year), in Step 1 (percentage of income account net surplus of Crown Estate to be used in determination), for “12%” substitute “20.5%”.

(2)

Accordingly, the following duties under the Sovereign Grant Act 2011 do not apply—

(a)

the duty of the Royal Trustees under section 7(1) of that Act to review as soon as practicable after the end of the review period ending with 31 March 2026 whether the percentage specified in Step 1 of section 6(1) is appropriate;

(b)

any duty of the Royal Trustees or the Treasury under that Act arising out of such a review.