# The Education (Student Loans) (Repayment) (Amendment) (No. 3) Regulations 2023, Regulation 3: Interest rate cap: consequential amendments


(1) The 2009 Regulations are amended as follows.
(2) In regulation 16 (deferral of repayment: initial training of teachers)—
(a) in paragraph (3A)—
(i) at the beginning of sub-paragraph (a), insert “if paragraph (3AA) does not apply,”;
(ii) for sub-paragraph (b), substitute—
“(b) if paragraph (3AA) applies, the interest rate cap within the meaning of regulation 20BA(4).”;
(b) after paragraph (3A), insert—
“(3AA) This paragraph applies if, in relation to a month, the standard interest rate exceeds by 0.1 per cent or more the interest rate cap within the meaning of regulation 20BA(4).”.
(3) In regulation 21A(11A) (interest rate on plan 2 loans), for paragraph (b), substitute—
“(b) regulation 20BA (interest rate cap: plan 2, plan 3 and plan 5 loans).”.
(4) In regulation 21B (interest rate on plan 3 loans), for paragraph (4ZA), substitute—
“(4ZA) This regulation is subject to regulation 20BA (interest rate cap: plan 2, plan 3 and plan 5 loans).”.
(5) In regulation 21C (interest rate on plan 5 loans), for paragraph (4), substitute—
“(4) This regulation is subject to regulation 20BA (interest rate cap: plan 2, plan 3 and plan 5 loans).”.

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Source: https://www.legislation.gov.uk/uksi/2023/1184/regulation/3 (the official version)
Page: https://openlegislation.uk/education-student-loans-repayment-amendment-no-3-regulations-2023/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.