Regulation 23 Amendments to regulation 20B (interest rate not to exceed prevailing market rate)I1
England and Wales
(1)
In regulation 20B(1) (which is inserted by regulation 22), for “post-2012 student loan or a postgraduate degree loan” (including the footnote) substitute “plan 2, 3 or 5 loanf1”.
(2)
In regulation 20B(3), in the definition of “interest rate”, for “21A or 21B” substitute “21A, 21B or 21C”.
Annotations
Commencement
Footnotes
- f1
-
The rate at which a plan 1 loan bears interest is limited by regulation 21(2). The rate at which a plan 4 loan bears interest is determined in accordance with regulations made under the Education (Scotland) Act 1980.