The Repayment of Student Loans (Scotland) Amendment Regulations 2012

Citation and commencement

1.  These Regulations may be cited as the Repayment of Student Loans (Scotland) Amendment Regulations 2012 and come into force on 6th April 2012.

Amendment of the Repayment of Student Loans (Scotland) Regulations 2000

2.  The Repayment of Student Loans (Scotland) Regulations 2000(1) are amended in accordance with regulations 3 to 6.

3.  In regulation 2(2) (interpretation), insert after the definition of “repayment”—

““repayment threshold” means—

(a)

for the year of assessment ending on 5th April 2013, an amount equal to £15,000 + (£15,000 x Y%) and rounded up to the nearest £5 where Y is the percentage increase between the retail prices all items index published by the Office of National Statistics for the two Marches immediately before the commencement of that year of assessment;

(b)

for any year of assessment ending after 6th April 2013 but before or on 5th April 2016, an amount equal to X + (X x Y%) and rounded up to the nearest £5 where—

X is the repayment threshold for the previous year of assessment, and

Y is the percentage increase between the retail prices all items index published by the Office of National Statistics for the two Marches immediately before the commencement of the previous year of assessment; and

(c)

for any year of assessment ending on or after 6th April 2016, the amount of the repayment threshold for the previous year of assessment;”.

4.  In regulation 9(4)(3) (refunds), for “£15,000” substitute “the repayment threshold”.

5.  In regulation 13A(4)(a)(4) (repayment by income related instalments), after “13B(2)” insert “as read with regulation 13B(2A)”.

6.  In regulation 13B(5) (calculation of fixed instalment and applicable threshold)—

(a) in paragraph (2), after “table” insert “as read with paragraph (2A)”; and

(b) after paragraph (2) insert—

“(2A) On 6th April 2012, and on 6th April of each subsequent year until and including 6th April 2015, each amount in the column headed “Applicable Threshold” in the table in paragraph (2) shall increase to an amount equal to X + (X x Y%) and rounded up to the nearest £5 where—

• X is the amount in the column entitled “Applicable Threshold” immediately before 6th April, and

• Y is the percentage increase between the retail prices all items index published by the Office for National Statistics for the two Marches immediately before the previous year of assessment.”.

MICHAEL W RUSSELL

A member of the Scottish Executive

St Andrew’s House,

Edinburgh

25th January 2012