Regulation 9 Amendment of the Education (Student Loans) (Scotland) Regulations 2000
For regulation 15(1) there is substituted–
“Subject to paragraph (2), loans made in each twelve month period commencing on each 1st August shall bear interest at a rate which will result in an annual percentage rate of charge determined in accordance with the Consumer Credit (Total Charge for Credit) Regulations 1980f1 equal to the percentage by which the retail prices all items index published by the Office for National Statistics for the month of March immediately preceding the commencement of that period has increased compared with that for the previous March.”.