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The Jobseeker’s Allowance Regulations 1996
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- UK Statutory Instruments
- 1996 No. 207
- SCHEDULE 2
- Paragraph 11
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Changes over time for: Paragraph 11
Version Superseded: 09/04/2001
Alternative versions:
- 07/10/1996- Amendment
- 10/04/2000- Amendment
- 10/04/2000
Point in time - 09/04/2001- Amendment
- 08/04/2002- Amendment
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Point in time view as at 10/04/2000. This version of this provision has been superseded.
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The standard rate
11.—(1) The standard rate is the rate of interest applicable to a loan which qualifies under this Schedule and—
[F1(a)except where sub-paragraph (2) applies shall be the rate specified in paragraph 12(1)(a) of Schedule 3 to the Income Support Regulations; or]
(b)where sub-paragraph (2) applies, shall equal the actual rate of interest charged on the loan on the day the housing costs first fall to be met.
(2) This sub-paragraph applies where the actual rate of interest charged on the loan which qualifies under this Schedule is less than 5 per cent. per annum on the day the housing costs first fall to be met and ceases to apply when the actual rate of interest on that loan is 5 per cent. per annum or higher.
(3) Where in a case to which sub-paragraph (2) applies, the actual rate of interest on the loan rises to 5 per cent. per annum or higher, the standard rate applicable on that loan shall be determined in accordance with sub-paragraph (1)(a).
Textual Amendments
F1Sch. 2 para. 11(1)(a) substituted (7.10.1996) by The Jobseeker’s Allowance and Income Support (General) (Amendment) Regulations 1996 (S.I. 1996/1517), regs. 1, 29(3)
Modifications etc. (not altering text)
C1Sch. 2 para. 11(2)(3) sum confirmed (with effect in accordance with art. 1(2)(i) of the amending S.I.) by The Social Security Benefits Up-rating Order 2000 (S.I. 2000/440), arts. 1(2)(i), 22(9), Sch. 15
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