Regulation 6 Amendments to the Education (Student Support) (Wales) Regulations 2018

for sub-paragraph (3) substitute—

“(3)

The applicable financial year is CY if the Welsh Ministers are satisfied that—

(a)

where P is one of two persons whose residual incomes are aggregated under paragraph (b)(i) or (ii) of List A in paragraph 3(1), the aggregate of the residual incomes of P and the other person for CY is likely to be at least 15% lower than the aggregate of the residual incomes of P and the other person for PY-1, or

(b)

in any other case, P’s residual income for CY is likely to be at least 15% lower than P’s residual income for PY-1.”;

for sub-paragraph (5) substitute—

“(5)

Where this sub-paragraph applies—

(a)

the applicable financial year is CY if the Welsh Ministers are satisfied that—

(i)

where P is one of two persons whose residual incomes are aggregated under paragraph (b)(i) or (ii) of List A in paragraph 3(1), the aggregate of the residual incomes of P and the other person for CY is likely to be at least 15% lower than the aggregate of the residual incomes of P and the other person for PY, or

(ii)

in any other case, P’s residual income for CY is likely to be at least 15% lower than P’s residual income for PY;

(b)

otherwise, the applicable financial year is PY.”