SCHEDULE
PART 2Amendments of secondary legislation etc.
The Education (Student Loans) (Repayment) Regulations 2009
41.
(1)
The Education (Student Loans) (Repayment) Regulations 2009 M1 are amended as follows.
(2)
In regulation 21 (interest rate on the loans) M2—
(a)
in paragraph (1) for “the Consumer Credit (Total Charge for Credit) Regulations 2010” substitute “
rules made by the Financial Conduct Authority under article 60M of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 for the purposes of Chapter 14A of Part 2 of that Order
”
;
(b)
in paragraph (2), for “for the purposes of any exemption conferred by virtue of section 16(5)(b) of the Consumer Credit Act 1974” substitute “
by article 60G(3)(d) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001
”
.
(3)
In regulation 21A (interest rate on post-2012 student loans) M3—
(a)
for “the Consumer Credit (Total Charge for Credit) Regulations 2010” in each place substitute “
total charge for credit rules
”
;
(b)
“(15)
In this regulation, “total charge for credit rules” means rules made by the Financial Conduct Authority under article 60M of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 for the purposes of Chapter 14A of Part 2 of that Order.”.