Regulation 3 Amendment of regulation 2

(1)

Amend regulation 2 (interpretation)^f1 as follows.

(2)

In paragraph (1)—

(a)

in sub-paragraph (a) of the definition of “operative date” for “eleventh” substitute “twelfth”,

(b)

in sub-paragraph (a) of the definition of “reference date” 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. 1998/3176 and 2008/3234.