Amendments to regulation 16 (interest rates on the loans)N.I.
6. In regulation 16(1) (interest rates on the loans)—
(a)in paragraph (1)—
(i)for “rules made by the Financial Conduct Authority under article 60M of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 for the purposes of Chapter 14A of Part 2 of that Order” substitute “total charge for credit rules”;
(ii)for “percentage increase between the retail prices all items index published by the Office for National Statistics for the two Marches immediately before the commencement of the academic year” substitute “standard interest rate”.
(b)in paragraph (4) for “retail prices all items index mentioned in paragraph (1)” substitute “retail price index”.
Commencement Information
I1Reg. 6 in operation at 6.4.2024, see reg. 1(2)
Regulation 16 had words substituted by Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013/1881 (July 26, 2013: substitution has effect subject to transitional provisions specified in SI 2013/1881 Pt.8).