Regulation 6 Application of payments receivedI1
Scotland
Any repayment received by the Scottish Ministers shall be applied by them in reduction or in satisfaction of–
first, any outstanding interest payable by the borrower by virtue of regulation 15 of the Loan Regulations F1, regulation 15 of the Education (Student Loans) (Scotland) Regulations 2000, regulation 14 of the Graduate Endowment (Scotland) Regulations 2001 F2, regulation 11 of the Education (Student Loans for Tuition Fees) (Scotland) Regulations 2006 F3regulation 14 of the Graduate Endowment (Scotland) Regulations 2007, regulation 11 of the Graduate Endowment (Scotland) Regulations 2008, or regulation 12(3) of these Regulations; and
second, any outstanding principal of the relevant student loan, which shall be reduced or satisfied from the date of receipt.
Annotations
Textual amendments
- F1
Words in reg. 6(a) inserted (1.8.2001) by The Repayment of Student Loans (Scotland) Amendment Regulations 2001 (S.S.I. 2001/227), regs. 1, 3
- F2
Words in reg. 6(a) inserted (1.7.2006) by The Education (Student Loans for Tuition Fees) (Repayment and Allowances) (Scotland) Amendment Regulations 2006 (S.S.I. 2006/326), regs. 1, 2(a)
- F3
Words in reg. 6(a) inserted (7.4.2009) by The Repayment of Student Loans (Scotland) Amendment Regulations 2009 (S.S.I. 2009/102), regs. 1, 5