(1) The Secretary of State may by order made by statutory instrument amend section 124 of the Employment Rights Act 1996 (limit of compensatory award etc) so as to vary the limit imposed for the time being by subsection (1) of that section.
(2) The limit as so varied may be -
(a) a specified amount, or
(b) the lower of -
(i) a specified amount, and
(ii) a specified number multiplied by a week's pay of the individual concerned.
(3) Different amounts may be specified by virtue of subsection (2)(a) or (b)(i) in relation to employers of different descriptions.
(4) An amount specified by virtue of subsection (2)(a) or (b)(i) -
(a) may not be less than median annual earnings;
(b) may not be more than three times median annual earnings.
(5) A number specified by virtue of subsection (2)(b)(ii) may not be less than 52.
(6) An order under this section may make consequential, supplemental, transitional, transitory or saving provision.
(7) The consequential provision that may be made under subsec
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