This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
6. In regulation 18A(1)—
(a)in paragraph (1), after “not a post-2012 student loan” in both places it occurs insert “nor a Scottish student loan”;
(b)after paragraph (1) insert—
“(1A) Subject to paragraph (2), where a borrower both has a student loan which is neither a post-2012 student loan nor a Scottish student loan, and has a Scottish student loan, and it is time for the borrower to repay both loans in accordance with regulation 15, the repayment will be divided between the loans so that—
(a)the part of the repayment relating to income above the repayment threshold in regulation 29(8B) is to reduce the outstanding balance of the Scottish student loan; and
(b)the part of the repayment relating to income above the applicable repayment threshold in regulation 29(7) up to and including the repayment threshold in regulation 29(8B) is to reduce the outstanding balance of the student loan which is not a post-2012 student loan nor a Scottish student loan.
(1B) Subject to paragraph (2), where a borrower has a post-2012 student loan and has a Scottish student loan, and it is time for the borrower to repay both loans in accordance with regulation 15, the repayment will be divided between the loans so that—
(a)the part of the repayment relating to income above the repayment threshold in regulation 29(8) is to reduce the outstanding balance of the post-2012 student loan; and
(b)the part of the repayment relating to income above the repayment threshold in regulation 29(8B) up to and including the repayment threshold in regulation 29(8) is to reduce the outstanding balance of the student loan which is a Scottish student loan.
(1C) Subject to paragraph (2), where a borrower has a student loan which is neither a post-2012 student loan nor a Scottish student loan, and has a post-2012 student loan, and has a Scottish student loan, and it is time for the borrower to repay all three loans in accordance with regulation 15, the repayment will be divided between the loans so that—
(a)the part of the repayment relating to income above the repayment threshold in regulation 29(8) is to reduce the outstanding balance of the post-2012 student loan;
(b)the part of the repayment relating to income above the repayment threshold in regulation 29(8B) up to and including the repayment threshold in regulation 29(8) is to reduce the outstanding balance of the student loan which is a Scottish student loan; and
(c)the part of the repayment relating to income above the applicable repayment threshold in regulation 29(7) up to and including the repayment threshold in regulation 29(8B) is to reduce the outstanding balance of the student loan which is not a post-2012 student loan nor a Scottish student loan.”;
(c)in paragraph (2)—
(i)for “paragraph (1)” substitute “paragraphs (1) to (1C)”;
(ii)for “and 29(8)” substitute “, 29(8) and 29(8B)”.
Regulation 18A was inserted by S.I. 2012/1309 and amended by 2019/189.
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