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4.—(1) The 2009 Regulations are amended as follows.
(2) For regulation 74(3)(1) (fixed instalment rate), substitute—
“(3) The fixed instalment rate for a plan 1, 2, 3 or 5 loan is calculated in accordance with regulation 74A.”.
(3) In regulation 74A(2) (how to calculate fixed instalment rate)—
(a)in paragraph (1) for “plan 2” substitute “plan 1, 2”;
(b)in paragraph (2) for “plan 2” substitute “plan 1, 2”;
(c)after paragraph (3), in the Example, for “applicable to plan 2” substitute “applicable to plan 1, 2”.
Regulation 74(3) was inserted by S.I. 2022/1335.
Regulation 74A was inserted by S.I. 2022/1335 and amended by S.I. 2023/521.
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