PART 2Amendment of the Education (Student Loans) (Repayment) Regulations 2009
Amendment of Part 2 (provisions applicable to all repayments)
Amendments to regulation 21A (interest rate on post-2012 student loans)I2I125
I21
In the heading to regulation 21A, for “post-2012 student loans” substitute “plan 2 loans”
.
I22
In regulation 21A(1), for “post-2012 student loans” substitute “plan 2 loans”
.
I23
In regulation 21A(2)—
a
in the words before sub-paragraph (a)—
i
omit “(3),”;
ii
for “post-2012 student loans” substitute “plan 2 loans”
;
b
in sub-paragraph (b), for “borrower to whom Part 3 or 4 applies” substitute “domestic borrower”
;
c
in sub-paragraphs (c) and (d), for “a borrower for whom Part 5 applies” substitute “an overseas borrower”
.
I24
Omit regulation 21A(2ZA).
I25
In regulation 21A(2A)—
a
in the words before sub-paragraph (a)—
i
for “student loan” substitute “loan”
;
ii
“post-2012 student loans bear” substitute “the loan bears”.
b
in sub-paragraph (a), for “borrower to whom Part 3 or 4 applies and also applied” substitute “domestic borrower who was a domestic borrower”
;
c
in sub-paragraphs (b) and (c), for “a borrower for whom Part 5 applies” substitute “an overseas borrower”
.
I26
In regulation 21A(2B)(b), for “student loan” substitute “loan”
.
I27
In regulation 21A(2C)—
a
for “student loan” substitute “loan”
;
b
for “post-2012 student loans bear” substitute “the loan bears”
.
I28
In regulation 21A(2D), omit “post-2012 student”.
I29
In regulation 21A(2E) and (2F), omit “post-2012 student”.
I210
Omit regulation 21A(3).
I211
In regulation 21A(4), for “post-2012 student loans bear” substitute “their loan bears”
.
I212
In regulation 21A(8), for “post-2012 student loans” substitute “plan 2 loans”
.
I113
Omit regulation 21A(8A) and (8B).
I214
Omit regulation 21A(9).
I115
After regulation 21A(11) insert—
11A
This regulation is subject to regulation 20B (interest rate not to exceed prevailing market rate).
I216
For regulation 21A(11A) substitute—
11A
This regulation is subject to the following—
a
regulation 16 (deferral of repayment: initial training of teachers);
b
regulation 20B (interest rate not to exceed prevailing market rate).
I217
After regulation 21A(11A) insert—
11B
In this regulation—
“higher interest threshold” means the higher interest threshold set out in, or calculated in accordance with, regulation 21AA;
“lower interest threshold” means the lower interest threshold set out in, or calculated in accordance with, regulation 21AB.
I218
Omit regulation 21A(12), (12A), (13), (13A), (14) and (15).