Explanatory note

These Regulations make a number of minor amendments to the Public Works Loans (Fees) Regulations 1991. Regulation 3(1) is amended to make it clear that the fees payable for advances are as provided for under paragraphs (1), (2) or (2A). Regulation 3(1)(a) is amended for the avoidance of doubt to indicate that the fees payable under regulation 3(1)(a)(i) and (ii) are alternatives. Finally, the Regulations insert a new paragraph (2A) into regulation 3 to enable a separate fee to be charged on a loan at a variable rate of interest following the repayment of a loan at a fixed rate of interest.