4(1)The requirements of this paragraph apply to a loan that has been varied on or after 6th April 2000 and the relevant time for the purposes of this paragraph is the time of the variation.
(2)The first requirement is that at the relevant time members of the public that had loans from the lender for similar purposes had a right to vary their loans on the same terms and conditions as applied in relation to the variation of the loan in question.
(3)The second requirement is that any existing loans so varied and the loan in question as varied are held on the same terms.
(4)The third requirement is that if those terms differ from the terms applicable immediately after the relevant time, they were imposed in the ordinary course of the lender’s business.
(5)The fourth requirement is that a substantial proportion of the relevant loans were made to members of the public.
(6)The relevant loans for the purposes of sub-paragraph (5) are—
(a)the loan in question;
(b)any existing loans which were varied at or about the time of the variation of the loan in question so as to be held on the same terms as that loan after it was varied;
(c)any new loans made by the lender, at or about that time, which are held on those terms.