Amendments to regulation 70 (repayment by income-related instalments)N.I.
24. In regulation 70(1) (repayment by income-related instalments)—
(a)for paragraph (4) substitute —
“(4) The relevant amount is 9% of the gross income which the Department consider the borrower is likely to receive in the next 12 month period following the date of the determination referred to in paragraph (2), disregarding—
(a)income up to the applicable threshold, calculated in accordance with regulation 70A; and
(b)income in respect of which the Department is satisfied that repayments are likely to be made under Part 3 or 4.”
(b)in paragraph (5) for “the instalment”, substitute “each instalment”.
Commencement Information
I1Reg. 24 in operation at 6.4.2024, see reg. 1(2)
Regulation 70 was amended by S.R. 2012 No. 136 and S.R 2013 No. 68.