The Education (Student Loans) (Repayment) (Amendment) (No. 3) Regulations 2023
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3 Interest rate cap: consequential amendments
(1) The 2009 Regulations are amended as follows. (2) In regulation 16 (deferral of repayment: initial training of teachers)— (a) in paragraph (3A)— (i) at the beginning of sub-paragraph (a), insert “if paragraph (3AA) does not apply,”; (ii) for sub-paragraph (b), substitute— (b) if paragraph (3AA) applies, the interest rate cap within the meaning of regulation 20BA(4). ; (b) after paragraph (3A), insert— (3AA) This paragraph applies if, in relation to a month, the standard interest rate exceeds by 0.1 per cent or more the interest rate cap within the meaning of regulation 20BA(4). . (3) In regulation 21A(11A) (interest rate on plan 2 loans), for paragraph (b), substitute— (b) regulation 20BA (interest rate cap: plan 2, plan 3 and plan 5 loans). . (4) In regulation 21B (interest rate on plan 3 loans), for paragraph (4ZA), substitute— (4ZA) This regulation is subject to regulation 20BA (interest rate cap: plan 2, plan 3 and plan 5 loans). . (5) In regulation 21C (interest rate on plan 5 loans), for paragraph (4), substitute— (4) This regulation is subject to regulation 20BA (interest rate cap: plan 2, plan 3 and plan 5 loans). .
3 Interest rate cap: consequential amendments
(1) The 2009 Regulations are amended as follows. (2) In regulation 16 (deferral of repayment: initial training of teachers)— (a) in paragraph (3A)— (i) at the beginning of sub-paragraph (a), insert “if paragraph (3AA) does not apply,”; (ii) for sub-paragraph (b), substitute— (b) if paragraph (3AA) applies, the interest rate cap within the meaning of regulation 20BA(4). ; (b) after paragraph (3A), insert— (3AA) This paragraph applies if, in relation to a month, the standard interest rate exceeds by 0.1 per cent or more the interest rate cap within the meaning of regulation 20BA(4). . (3) In regulation 21A(11A) (interest rate on plan 2 loans), for paragraph (b), substitute— (b) regulation 20BA (interest rate cap: plan 2, plan 3 and plan 5 loans). . (4) In regulation 21B (interest rate on plan 3 loans), for paragraph (4ZA), substitute— (4ZA) This regulation is subject to regulation 20BA (interest rate cap: plan 2, plan 3 and plan 5 loans). . (5) In regulation 21C (interest rate on plan 5 loans), for paragraph (4), substitute— (4) This regulation is subject to regulation 20BA (interest rate cap: plan 2, plan 3 and plan 5 loans). .
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