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2.—(1) For paragraph 10 of Schedule 3 to the Income Support (General) Regulations 1987(1) (housing costs: the calculation for loans), there shall be substituted the following paragraph—
10. The weekly amount of existing housing costs or, as the case may be, new housing costs to be met under this Schedule in respect of a loan which qualifies under paragraph 15 or 16 shall be calculated by applying the formula—
where—
=
the amount of the loan which qualifies under paragraph 15 or 16;
=
the standard rate for the time being specified in respect of that loan under paragraph 12.”.
(2) For paragraph 9 of Schedule 2 to the Jobseeker’s Allowance Regulations 1996(2) (housing costs: the calculation for loans) there shall be substituted the following paragraph—
9. The weekly amount of existing housing costs or, as the case may be, new housing costs to be met under this Schedule in respect of a loan which qualifies under paragraph 14 or 15 shall be calculated by applying the formula—
where—
=
the amount of the loan which qualifies under paragraph 14 or 15;
=
the standard rate for the time being specified in respect of that loan under paragraph 11.”.
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