This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
3.—(1) The 2009 Regulations are amended as follows.
(2) In regulation 16(1) (deferral of repayment: initial training of teachers)—
(a)in paragraph (3A)—
(i)at the beginning of sub-paragraph (a), insert “if paragraph (3AA) does not apply,”;
(ii)for sub-paragraph (b), substitute—
“(b)if paragraph (3AA) applies, the interest rate cap within the meaning of regulation 20BA(4).”;
(b)after paragraph (3A), insert—
“(3AA) This paragraph applies if, in relation to a month, the standard interest rate exceeds by 0.1 per cent or more the interest rate cap within the meaning of regulation 20BA(4).”.
(3) In regulation 21A(11A)(2) (interest rate on plan 2 loans), for paragraph (b), substitute—
“(b)regulation 20BA (interest rate cap: plan 2, plan 3 and plan 5 loans).”.
(4) In regulation 21B(3) (interest rate on plan 3 loans), for paragraph (4ZA), substitute—
“(4ZA) This regulation is subject to regulation 20BA (interest rate cap: plan 2, plan 3 and plan 5 loans).”.
(5) In regulation 21C(4) (interest rate on plan 5 loans), for paragraph (4), substitute—
“(4) This regulation is subject to regulation 20BA (interest rate cap: plan 2, plan 3 and plan 5 loans).”.
Regulation 16 was amended by S.I. 2011/784 and 2022/1335.
Regulation 21A was inserted by S.I. 2012/1309 and amended by S.I. 2013/607; 2013/1881; 2018/284; 2019/189; 2022/1151; 2022/1335.
Regulation 21B was inserted by S.I. 2017/831 and amended by S.I. 2022/1151; 2022/1335.
Regulation 21C was inserted by S.I. 2022/1335.
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
