# The Income Support (General) (Standard Interest Rate Amendment) (No. 2) Regulations 2001

S.I. 2001/2676 · made 23 July 2001

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 is 6.65 per cent. (regulation 2). The Regulations also revoke, with a saving provision, regulations which made a previous amendment to that standard rate of interest (regulation 3).

Made under: Social Security Contributions and Benefits Act 1992 (Section 123, Section 135, Section 137, Section 175)

PDFs: Printed copy https://openlegislation.uk/income-support-general-standard-interest-rate-amendment-no-2-regulations-2001/pdf/uksi_20012676_en.pdf

## Introductory text

SOCIAL SECURITY
Made 23rd July 2001
Laid before Parliament 27th July 2001
Coming into force 19th August 2001
The Secretary of State for Work and Pensions, in exercise of the powers conferred upon him by sections 123(1)(a), 135(1), 137(1) and 175(1) and (3) to (5) of the Social Security Contributions and Benefits Act 1992 and of all other powers enabling him in that behalf, after agreement by the Social Security Advisory Committee that proposals in respect of these Regulations should not be referred to it, hereby makes the following Regulations:

## 1 Citation, commencement and interpretation

(1) These Regulations shall be cited as the Income Support (General)(Standard Interest Rate Amendment)(No. 2) Regulations 2001 and shall come into force on 19th August 2001.
(2) These Regulations shall have effect in relation to any particular claimant—
(a) in a case where income support is paid to the claimant in arrears in accordance with paragraph 7(1)(i) of Schedule 7 to the Claims and Payments Regulations (date when change of circumstances is to take effect)—
(i) from the first day of the benefit week which includes 26th August 2001; or
(ii) if the claim for income support is for a period commencing after 26th August 2001, from the first day of the first benefit week commencing after 19th August 2001;
(b) in a case where income support is paid to the claimant in advance in accordance with paragraph 7(1)(ii) of Schedule 7 to the Claims and Payments Regulations, from the first day of the first benefit week commencing after 26th August 2001,
and for this purpose, the expressions “claimant” and “benefit week” have the same meaning as in regulation 2(1) of the Income Support Regulations(interpretation).
(3) In these Regulations, “the Claims and Payments Regulations” means the Social Security (Claims and Payments) Regulations 1987 and “the Income Support Regulations” means the Income Support (General) Regulations 1987.

## 2 Amendment of Schedule 3 to the Income Support Regulations

In paragraph 12(1)(a) of Schedule 3 to the Income Support Regulations (standard rate of interest on qualifying loans), for the words “6.94 per cent.” there shall be substituted the words “6.65 per cent.”.

## 3 Revocation of the Income Support (General) (Standard Interest Rate Amendment) Regulations 2001

The Income Support (General) (Standard Interest Rate Amendment) Regulations 2001 are hereby revoked save that those Regulations shall continue to have effect until the day before the first day of the benefit week having effect in relation to any particular claimant for the purpose of regulation1(2) of these Regulations.

## Signature

Signed by authority of the Secretary of State for Work and Pensions
Malcolm Wicks
Parliamentary Under-Secretary of State,
Department for Work and Pensions
23rd July 2001

## Explanatory note

(This note is not part of the Regulations)
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 is 6.65 per cent. (regulation 2). The Regulations 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 upon business.

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Source: https://www.legislation.gov.uk/uksi/2001/2676 (the official version)
Page: https://openlegislation.uk/income-support-general-standard-interest-rate-amendment-no-2-regulations-2001
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.