Explanatory note

These Regulations amend Schedule 3 to the Income Support (General) Regulations 1987 (S.I. 1987/1967), as substituted and amended, with respect to the standard rate of interest applicable to a loan which qualifies for income support under that Schedule to those Regulations, the new rate being 7.74 per cent. (regulation 2) and also revoke, with a saving provision, regulations which made a previous amendment to that standard rate of interest (regulation 3).

These Regulations do not impose a charge on business.