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The State Pension Credit Regulations 2002

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Changes over time for: Paragraph 9

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Version Superseded: 08/04/2013

Status:

Point in time view as at 07/04/2008. This version of this provision has been superseded. Help about Status

Changes to legislation:

There are currently no known outstanding effects for the The State Pension Credit Regulations 2002, Paragraph 9. Help about Changes to Legislation

The standard rate

[F19.(1) The standard rate is the rate of interest applicable per annum to a loan which qualifies under this Schedule.

(2) Subject to [F2sub-paragraph (3)], the standard rate shall be 1.58 per cent. plus—

(a)the rate announced from time to time by the Monetary Policy Committee of the Bank of England as the official dealing rate, being the rate at which the Bank is willing to enter into transactions for providing short term liquidity in the money markets, or

(b)where an order under section 19 of the Bank of England Act 1998 (reserve powers) is in force, any equivalent rate determined by the Treasury under that section.

(3) The Secretary of State shall determine the date from which the standard rate calculated in accordance with sub-paragraph (2) takes effect.]

F3(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F3(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F3(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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