Paragraph 4 I1

“The required amount”, in relation to a period beginning with the date on which the loan is made and ending with the last day of a loan year, is—

\frac{L + TIP}{TLY} \times NLY

where—

L is the amount of the loan,

TIP is the total interest payable on the loan,

TLY is the total number of loan years, and

NLY is the number of loan years in the period.

Annotations

I1: Ss. 160-274, 281, Schs. 30-35 in force at 6.4.2006 but any power to make an order or regulations under those provisions may be exercised at any time after Royal Assent, see s. 284