# The Income Support (General) (Standard Interest Rate Amendment) (No.3) Regulations 2004

S.I. 2004/2174 · made 23 August 2004

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 5.88 per cent. (regulation 2). These Regulations also revoke, with a saving provision, regulations which made the 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-no3-regulations-2004/pdf/uksi_20042174_en.pdf; Explanatory Memorandum https://openlegislation.uk/income-support-general-standard-interest-rate-amendment-no3-regulations-2004/pdf/uksiem_20042174_en.pdf

## Introductory text

SOCIAL SECURITY
Made 23rd August 2004
Laid before Parliament 27th August 2004
Coming into force 19th September 2004
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), (3) and (4) 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 may be cited as the Income Support (General) (Standard Interest Rate Amendment) (No.3) Regulations 2004 and shall come into force on 19th September 2004.
(2) In these Regulations—
(a) “the Decisions and Appeals Regulations” means the Social Security and Child Support (Decisions and Appeals) Regulations 1999;
(b) “the Income Support Regulations” means the Income Support (General) Regulations 1987; and
(c) the expressions “claimant” and “benefit week” have the same meanings as in regulation 2(1) of the Income Support Regulations (interpretation).
(3) 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 1(a) of Schedule 3A of the Decisions and Appeals Regulations (date on which change of circumstances takes effect in certain cases where a claimant is in receipt of income support)—
(i) from the first day of the benefit week which includes 26th September 2004; or
(ii) if the claim for income support is for a period commencing after 26th September 2004, from the first day of the first benefit week commencing after 19th September 2004;
(b) in a case where income support is paid to the claimant in advance, in accordance with paragraph 1(b) of Schedule 3A to the Decisions and Appeals Regulations, from the first day of the first benefit week commencing after 26th September 2004.

## 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 “5.59 per cent.” there shall be substituted the words “5.88 per cent.”.

## 3 Revocation and saving of the Income Support (General) (Standard Interest Rate Amendment) (No.2) Regulations 2004

The Income Support (General) (Standard Interest Rate Amendment) (No.2) Regulations 2004 are hereby revoked save that those Regulations shall continue to have effect in relation to any particular claimant until these Regulations have effect in relation to that claimant.

## Signature

Signed by authority of the Secretary of State for Work and Pensions.
Malcolm Wicks
Minister of State,
Department for Work and Pensions
23rd August 2004

## 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 5.88 per cent. (regulation 2). These Regulations also revoke, with a saving provision, regulations which made the previous amendment to that standard rate of interest (regulation 3).
A full regulatory impact assessment has not been produced for this instrument as it has no impact on the costs of business.

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Source: https://www.legislation.gov.uk/uksi/2004/2174 (the official version)
Page: https://openlegislation.uk/income-support-general-standard-interest-rate-amendment-no3-regulations-2004
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.