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The Education (Interest on Student Loans) (Scotland) Regulations 2009

S.S.I. 2009/189 · Made 14 May 2009

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

EDUCATION

Made 14th May 2009

Laid before the Scottish Parliament 15th May 2009

Coming into force 25th June 2009

The Scottish Ministers make the following Regulations in exercise of the powers conferred by sections 73(f), 73B and 74(1) of the Education (Scotland) Act 1980f1 and all other powers enabling them to do so.

Annotations to the whole text

Footnotes

f1

1980 c. 44. Section 73(f) was amended by the Teaching and Higher Education Act 1998 (c. 30) (“the 1998 Act”), section 29(1) and by the Education (Graduate Endowment and Student Support) (Scotland) Act 2001 (asp 6), section 3(2). Section 73B, to which there are no relevant amendments, was inserted by section 29(2) of the 1998 Act. Section 74(1) was amended by the Self-Governing Schools etc. (Scotland) Act 1989 (c. 39), section 82(1) and Schedule 10, paragraph 8(17). The functions of the Secretary of State were transferred to the Scottish Ministers by virtue of section 53 of the Scotland Act 1998 (c. 46).

Contents

  1. 1Citation and commencement
  2. 2Amendment of the Education (Student Loans for Tuition Fees) (Scotland) Regulations 2006
  3. 3Amendment of the Education (Student Loans) (Scotland) Regulations 2007
  4. Signature
  5. Explanatory note

1Citation and commencement

These Regulations may be cited as the Education (Interest on Student Loans) (Scotland) Regulations 2009 and come into force on 25th June 2009.

2Amendment of the Education (Student Loans for Tuition Fees) (Scotland) Regulations 2006

In regulation 11(1) (interest) of the Education (Student Loans for Tuition Fees) (Scotland) Regulations 2006f1 after “paragraph (2),” insert “if the Scottish Ministers determine that loans are to bear interest,”.

3Amendment of the Education (Student Loans) (Scotland) Regulations 2007

In regulation 14(1) (interest) of the Education (Student Loans) (Scotland) Regulations 2007f1 after “paragraph (2),” insert “if the Scottish Ministers determine that loans are to bear interest,”.

Signature

FIONA HYSLOP

A member of the Scottish Executive

St Andrew’s House,

Edinburgh

14th May 2009

Explanatory note

(This note is not part of the Regulations)

These Regulations amend the Education (Student Loans for Tuition Fees) (Scotland) Regulations 2006 (“the 2006 Regulations”) and the Education (Student Loans) (Scotland) Regulations 2007 (“the 2007 Regulations”).

The effect of these amendments is that the interest rates prescribed by the 2006 Regulations and the 2007 Regulations only apply to student loans which the Scottish Ministers have determined are to bear interest. Where the Scottish Ministers make such a determination then, subject to the low interest cap imposed by consumer credit legislation, the rate set by the Scottish Ministers will continue to be the equivalent to the annual percentage increase in the Retail Prices (All items) Index for the month of March preceding the beginning of the academic year in August or September.