# The Credit Unions (Maximum Interest Rate on Loans) Order 2006, Note: Explanatory note


(This note is not part of the Order)
This Order increases the limit on the interest which a credit union may charge on loans made by it. The maximum rate of interest is increased from 1% to 2% per month.
A full regulatory impact assessment of the effect that this instrument will have on the costs of business is available from the Payments and Inclusion Team, HM Treasury, 1 Horse Guards Road, London SW1A 2HQ or at www.hm-treasury.gov.uk. Copies have been placed in the libraries of both Houses of Parliament.

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Source: https://www.legislation.gov.uk/uksi/2006/1276/note (the official version)
Page: https://openlegislation.uk/credit-unions-maximum-interest-rate-on-loans-order-2006/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.