- Latest available (Revised)
- Point in Time (16/06/2016)
- Original (As made)
Version Superseded: 05/09/2017
Point in time view as at 16/06/2016. This version of this provision has been superseded.
You are viewing this legislation item as it stood at a particular point in time. A later version of this or provision, including subsequent changes and effects, supersedes this version.
Note the term provision is used to describe a definable element in a piece of legislation that has legislative effect – such as a Part, Chapter or section.
There are outstanding changes not yet made by the legislation.gov.uk editorial team to The Education (Postgraduate Master's Degree Loans) Regulations 2016. Any changes that have already been made by the team appear in the content and are referenced with annotations.
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
28.—(1) This regulation applies if—
(a)the borrower gives notice to the Authority of an intention to repay the outstanding balance in accordance with this regulation;
(b)the Authority is satisfied that the borrower is likely to repay all of the outstanding balance of the postgraduate master's degree loan under Chapter 4 of this Part within 23 months of that notice; and
(c)the borrower has not previously ceased making payments under this regulation without the loan having being repaid in full, unless such cessation was agreed by the Authority.
(2) Where this regulation applies, subject to paragraphs (3) and (4), the Authority must give notice to HMRC, in accordance with regulation 26(4)(d) that deductions from the borrower's earnings are to cease from the date specified in the notice.
(3) The borrower must complete and return to the Authority in the format required by the Authority from time to time, a standing instruction to the borrower's bank authorising monthly lump sum payments to the Authority in such sum as is required to ensure payment of the outstanding balance within the next 23 months.
(4) The first date on which a bank, authorised by a borrower to make a payment, makes a payment must fall no later than 30 days after the date which the Authority specifies in a notice pursuant to regulation 26(4)(d).
(5) If at any time the instruction to the borrower's bank—
(a)is refused on any second presentation by the Authority; or
(b)is cancelled or otherwise altered by the borrower without the permission of the Authority given under paragraph (6),
then the Authority must give notice of any refusal or failed payment to the borrower and must give a notice to HMRC and to the borrower pursuant to regulation 26(4) that deductions from earnings are to recommence unless regulation 26(9) would otherwise apply.
(6) The borrower may, at any time, agree with the Authority that repayment in accordance with this regulation will cease, and thereafter the Authority must give a notice to HMRC and to the borrower in accordance with regulation 26(4) that repayment through the tax system is to recommence unless regulation 26(9) would otherwise apply.
(7) The Authority may suspend or delay the operation of paragraph (5) if and to the extent it appears to the Authority expedient to do so, taking into account the causes of the failed payment and the Authority must notify the borrower of any suspension or delay as the case may be.
(8) This regulation will not affect any voluntary repayments made by a borrower by any method pursuant to regulation 26(1).
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: