Regulation 5 Repayment period
(1)
The registered social landlord must—
(a)
determine—
(i)
the number of equal annual instalments, being no fewer than 5 and no more than 30, in which the repayable amount is to be paid; and
(ii)
the date in each year on which the instalment becomes due; and
(b)
notify the owner of its determination under paragraph (a).
(2)
The registered social landlord may—
(a)
determine that an equal annual instalment mentioned in paragraph (1) may be made by 12 equal monthly payments beginning on the date determined under paragraph (1)(a)(ii) and—
(i)
on the same day of each subsequent month; or
(ii)
if a subsequent month has no such day, on the final day of the month; and
(b)
notify the owner of its determination under paragraph (a).