# The Education (Student Support) (Postgraduate Master's Degrees) (Wales) Regulations 2019, Paragraph 12: Income of eligible student received in currency other than sterling

Extent: E+W

(1) Where the eligible student receives income in a currency other than sterling, the value of the income is—
(a) the amount of sterling the eligible student receives for the income, or
(b) where the student does not convert the income into sterling, the value of the sterling which the income would purchase using the HMRC exchange rate.
(2) The HMRC exchange rate is the rate published by Her Majesty's Revenue and Customs for the month corresponding to the month in which the income is received.

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Source: https://www.legislation.gov.uk/wsi/2019/895/schedule/3/paragraph/12 (the official version)
Page: https://openlegislation.uk/education-student-support-postgraduate-masters-degrees-wales-regulations-2019/schedule-3/paragraph-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.