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.