Regulation 25 Insertion of regulation 70A (how to calculate applicable threshold)I1

After regulation 70 (repayment by income-related instalments) insert—

“How to calculate applicable threshold

70A.

The applicable threshold is, in relation to a borrower’s loan, the amount—

(a)

rounded up to the nearest £5 (if necessary), and

(b)

being the product of—

(i)

the repayment threshold for the loan, and

(ii)

the country-specific multiplier for the borrower’s country of residence.”.