The Secretary of State may by regulations in a statutory instrument make such provision as appears to him to be appropriate—
for relieving companies from the requirements of section 130 in relation to premiums other than cash premiums, or
for restricting or otherwise modifying any relief from those requirements provided by this Chapter.
Regulations under this section may make different provision for different cases or classes of case and may contain such incidental and supplementary provisions as the Secretary of State thinks fit.
No such regulations shall be made unless a draft of the instrument containing them has been laid before Parliament and approved by a resolution of each House.