# The Education (Student Support) (Postgraduate Master's Degrees) (Wales) Regulations 2019, Paragraph 16: Applicable financial years: calculating residual income of persons other than eligible student

Extent: E+W

(1) This paragraph specifies the applicable financial year for the purposes of calculating P's residual income.
(2) Unless sub-paragraph (3) applies, the applicable financial year is PY-1.
(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.

---
Source: https://www.legislation.gov.uk/wsi/2019/895/schedule/3/paragraph/16 (the official version)
Page: https://openlegislation.uk/education-student-support-postgraduate-masters-degrees-wales-regulations-2019/schedule-3/paragraph-16
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.