The Income Support (General) (Standard Interest Rate Amendment) Regulations (Northern Ireland) 1997
Citation, commencement and interpretation1.
(1)
These Regulations may be cited as the Income Support (General) (Standard Interest Rate Amendment) Regulations (Northern Ireland) 1997 and shall come into operation on 13th April 1997.
(2)
These Regulations shall have effect in relation to any particular claimant—
(a)
(i)
from the first day of the benefit week which includes 20th April 1997, or
(ii)
if the claim for income support is for a period beginning after 20th April 1997, from the first day of the first benefit week commencing after 13th April 1997;
(b)
in a case where income support is paid to the claimant in advance in accordance with paragraph 7(1)(b) of Schedule 7 to the Claims and Payments Regulations, from the first day of the first benefit week commencing after 20th April 1997,
(3)
In these Regulations—
(4)
Amendment of Schedule 3 to the Income Support Regulations2.
Revocation3.
Sealed with the Official Seal of the Department of Health and Social Services for Northern Ireland on
These Regulations amend Schedule 3 to the Income Support (General) Regulations (Northern Ireland) 1987 with respect to the standard rate of interest applicable to a loan which qualifies for income support. The rate is increased from 6·89 per cent. to 7·20 per cent. (regulation 2). The Regulations also revoke, with a saving provision, the Income Support (General) (Standard Interest Rate Amendment No. 3) Regulations (Northern Ireland) 1996 which made a previous amendment to the standard rate of interest (regulation 3).
These Regulations make in relation to Northern Ireland only provision corresponding to provision contained in Regulations made by the Secretary of State for Social Security in relation to Great Britain and accordingly, by virtue of section 149(3) of, and paragraph 10 of Schedule 5 to, the Social Security Administration (Northern Ireland) Act 1992 (c. 8), are not subject to the requirement of section 149(2) of that Act for prior reference to the Social Security Advisory Committee.