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The Income Support (General) (Standard Interest Rate Amendment) (No.3) Regulations 2004
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- UK Statutory Instruments
- 2004 No. 2174
- Explanatory Note
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Explanatory Note
(This note is not part of the Regulations)
These Regulations amend Schedule 3 to the Income Support (General) Regulations 1987 (S.I. 1987/1967), as substituted and amended, with respect to the standard rate of interest applicable to a loan which qualifies for income support under that Schedule to those Regulations. The new rate is 5.88 per cent. (regulation 2). These Regulations also revoke, with a saving provision, regulations which made the previous amendment to that standard rate of interest (regulation 3).
A full regulatory impact assessment has not been produced for this instrument as it has no impact on the costs of business.
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