Regulation 4 Amendment of the Child Support (Arrears, Interest and Adjustment of Maintenance Assessments) RegulationsI1

for sub-paragraph (b) there shall be substituted the following sub-paragraph –

“(b)

the reference banks are the seven largest persons for the time being who –

(i)

have permission under Part IV of the Financial Services and Markets Act 2000^f2 to accept deposits;

(ii)

are incorporated in the United Kingdom and carrying on there a regulated activity of accepting deposits, and

(iii)

quote a base rate in sterling; and”, and

in sub-paragraph (c) for “an institution” there shall be substituted “a person referred to in sub-paragraph (b)” and for “its”, in both places where it occurs, there shall be substituted “his”;