PART 2Amendments to the Repayment Regulations

Amendment of Part 5 (Repayment by Overseas Borrowers)

Insertion of regulation 70A (how to calculate applicable threshold)I125

After regulation 70 (repayment by income-related instalments) insert—

How to calculate applicable threshold70A

The applicable threshold is, in relation to a borrower’s loan, the amount—

a

rounded up to the nearest £5 (if necessary), and

b

being the product of—

i

the repayment threshold for the loan, and

ii

the country-specific multiplier for the borrower’s country of residence.