Regulation 10 Amendment of the Education (Student Loans) (Repayment) Regulations (Northern Ireland) 2009

In regulation 71(1) (Calculation of fixed instalment and applicable threshold) insert—

“(1A)

On 6th April 2012, and on 6th April of each subsequent year until and including the 6th April 2015 each amount in the column entitled “Applicable Threshold” shall increase to an amount equal to X + (X x Y%) and rounded up to the nearest £5 where—

X is the amount in the amount in the column entitled “Applicable Threshold” immediately before the 6th April

Y is the percentage increase between the retail prices all items index published by the Office for National Statistics for the two Marches immediately before the commencement of the previous repayment threshold year.”