Regulation 3 Amendment of the Repayment of Student Loans (Scotland) Regulations 2000

In regulation 2^f1 (interpretation), insert after the definition of “repayment”—

• ““repayment threshold” means—

  1. (a)

     for the year of assessment ending on 5th April 2013, an amount equal to £15,000 + (£15,000 x Y%) and rounded up to the nearest £5 where Y is the percentage increase between the retail prices all items index published by the Office of National Statistics for the two Marches immediately before the commencement of that year of assessment;

  2. (b)

     for any year of assessment ending after 6th April 2013 but before or on 5th April 2016, an amount equal to X + (X x Y%) and rounded up to the nearest £5 where—

     X is the repayment threshold for the previous year of assessment, and

     Y is the percentage increase between the retail prices all items index published by the Office of National Statistics for the two Marches immediately before the commencement of the previous year of assessment; and

  3. (c)

     for any year of assessment ending on or after 6th April 2016, the amount of the repayment threshold for the previous year of assessment;”.