# The Child Support and Social Security (Miscellaneous Amendments) Regulations (Northern Ireland) 2003, Regulation 4: Amendment of the Child Support (Arrears, Interest and Adjustment of Maintenance Assessments) Regulations

Extent: N.I.

In regulation 6 of the Child Support (Arrears, Interest and Adjustment of Maintenance Assessments) Regulations (Northern Ireland) 1992 (rate of interest and calculation of interest) –
(a) in paragraph (3) –
(i) 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 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
(ii) 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”;
(b) in paragraph (4) for “an institution” there shall be substituted “a person” and for “that institution” there shall be substituted “that person”; and
(c) after paragraph (5) there shall be added the following paragraph –
“(6) Paragraph (3)(b) must be read with –
(a) section 22 of the Financial Services and Markets Act 2000;
(b) any relevant order under that section; and
(c) Schedule 2 to that Act.”.

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Source: https://www.legislation.gov.uk/nisr/2003/84/regulation/4 (the official version)
Page: https://openlegislation.uk/child-support-and-social-security-miscellaneous-amendments-regulations-northern-ireland-2003/regulation-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.