7Compensation scheme

(1)The Secretary of State may by regulations make provision for paying compensation to a steel undertaking to which a notice has been given under section 2 as a result of the exercise of the Secretary of State’s functions under this Act.

(2)Regulations under this section are to be made by statutory instrument.

(3)A statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of either House of Parliament.