- Latest available (Revised) - English
- Latest available (Revised) - Welsh
- Original (As made) - English
- Original (As made) - Welsh
This is the original version (as it was originally made).
12.—(1) Where the eligible student receives income in a currency other than sterling, the value of the income is—
(a)the amount of sterling the eligible student receives for the income, or
(b)where the student does not convert the income into sterling, the value of the sterling which the income would purchase using the HMRC exchange rate.
(2) The HMRC exchange rate(1) is the rate published by HM Revenue and Customs for the month corresponding to the month in which the income is received.
See https://www.gov.uk/government/collections/exchange-rates-for-customs-and-vat.
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Original (As Enacted or Made) - English: The original English language version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
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