Regulation 3 Amendment of regulation 3 of the principal Regulations

by the insertion of the words “save where paragraph (2) or (2A) below applies,” at the beginning of regulation 3(1)(a);

by the substitution in regulation 3(1)(a)(i) of the word “or” for the word “and”;

by the insertion of the following new paragraph after regulation 3(2)—

“(2A)

In respect of any advance made by the Commissioners—

(a)

which is secured solely on the revenues of the borrower,

(b)

on which a variable rate of interest is payable, and

(c)

which the Commissioners require to be taken on the premature repayment of a loan on which a fixed rate of interest is payable,

the fee payable shall be £70.”