- Draft legislation
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Social Security Benefits Up-rating Order 2014 No. 516
Article 21(6)
(1) Provision in State Pension Credit Regulations | (2) Specified Amount |
---|---|
Regulation 6(3)(a) | Nil. |
Regulation 6(3)(b) | Nil. |
Regulation 7(3) | Nil. |
Schedule II, paragraph 6(3) | The relevant fraction shall be obtained in accordance with the formula— |
Schedule II, paragraph 7(1) | The weekly amount of housing costs shall be calculated by applying the formula— |
Schedule II, paragraph 8(2)(1) | £100,000. |
Schedule II, paragraph 8(4)(a) | The sum shall be determined by applying the formula— |
Schedule II, paragraph 8(8)(2) | The qualifying portion of a loan shall be determined by applying the formula— |
Schedule II, paragraph 9(2)(3) | The standard rate is to be the average mortgage rate published by the Bank of England in August 2010. It is to be varied each time that sub-paragraph (2B) applies such that the average mortgage rate published on the reference day then becomes the new standard rate in accordance with sub-paragraph (2D). |
Schedule III, paragraph 2(4) | Nil. |
See S.I. 2008/3195 which modifies paragraph 8(2) so that it applies as if the reference to “£100,000” were to “£200,000” in relation to certain persons.
Relevant amending instrument is S.I. 2007/2618.
Relevant amending instruments are S.I. 2004/2825, 2007/3183, 2008/3195 and 2010/1811.
Paragraph 2 was substituted by S.I. 2005/3360 and amended by S.I. 2006/588.
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