3.—(1) Where, but for this section, damages not exceeding £350 in respect of loss of or damage to, or destruction of, any item of property other than the defective product itself would fall to be awarded by virtue of this Act, no damages shall be awarded, and where, but for this section, damages exceeding that amount would fall to be awarded, only that excess shall be awarded.

(2) The Minister may by order vary with effect from a date specified in the order, being a date subsequent to the making of the order, the amount specified in subsection (1) of this section but such variation shall not apply to proceedings pending in any court at that date.

(3) The Minister may by order amend or revoke an order made under this section.