Costs and expenses of the AuthorityU.K.
79.—(1) Where the Authority incurs reasonable costs or expenses in taking steps—
(a)resulting from a borrower’s failure to comply with regulation 72, to
(i)obtain a borrower’s address outside the United Kingdom; or
(ii)obtain information about a borrower’s income during any period of residence outside the United Kingdom;
(b)to serve a notice under regulation 73(1) in any of the circumstances set out in regulation 73(2); or
(c)to recover the outstanding balance of the loan in full under regulation 78,
the Authority may require reimbursement of those costs or expenses by the borrower and may add them to the borrower’s loan account and they will form part of the principal of the loan from the date on which they are added.
(2) Where the Authority incurs such costs and expenses as are referred to in paragraphs (1)(a) to (c) in respect of a transferred loan, the Authority is entitled to recover such costs as are incurred on behalf of the loan purchaser and may add them to the borrower’s loan account.
(3) Any sum added to the borrower’s loan account in accordance with paragraph (2) is owed to the loan purchaser.