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Regulation 6 Repayments collected by HMRC in respect of transferred loans

Original text. Later amendments are not shown.

(1)

In regulation 4(1) after “borrowers”, insert “(whether or not any loan of the borrower is a transferred loan)”.

(2)

After regulation 4(2), insert—

“(2A)

HMRC shall account for and pay to the Secretary of State such sums as are referred to in paragraph (2) regardless of whether the Secretary of State is entitled to retain such repayments or receives them on behalf of a loan purchaser.”

(3)

In regulation 4(3), for “Repayments”, substitute “Payments to the Secretary of State”.