Regulation 2 Amendment to the Housing (Service Charge Loans) Regulations 1992

For paragraph 1 of Schedule 2 to the Housing (Service Charge Loans) Regulations 1992^f1 there shall be substituted the following—

“1

(a)

Except in a case falling within sub-paragraph (b), the rate of interest payable on the loan shall be such reasonable rate as may be determined by the lender.

(b)

In the case of a loan under regulation 2 where the lender is a local authority, the provisions of Schedule 16 to the Act shall apply.”.