Regulation 4 Amendment to regulation 13 of the principal Regulations

After regulation 13(4) of the principal Regulations add the following paragraph—

“(5)

Where the Secretary of State has received a voluntary payment not required under these Regulations in relation to loans of a borrower who is an eligible teacher after he has commenced eligible employment or 1st September 2002 whichever is the later he may refund to the borrower—

(a)

who is a full-time eligible teacher, an amount equal to that payment, or

(b)

who is a part-time eligible teacher, an amount equal to the part of that payment which is not required to pay the loan in full not including the proportion of the loan for which he is eligible for a reduction under the Teachers' Regulations.”.