Regulation 16 Amendment of regulation 2

(1)

Amend regulation 2 (interpretation)^f1 as follows.

(2)

In paragraph (1)—

(a)

in the definition of “operative day” for “eleventh” substitute “twelfth”,

(b)

in the definition of “reference day” omit “second”.

(3)

For paragraph (2) substitute—

“(2)
In these Regulations the reference rate found on a reference date is the official bank rate determined by the most recent meeting of the Monetary Policy Committee of the Bank of England.”.

Annotations

Footnotes

f1: Regulation 2 was amended by S.I. 2000/631 and 2008/3234.