79Amount of grant or loanS
(1)The amount of a grant is the greater of—
(a)the approved expense less the applicant's contribution (if any), or
(b)where subsection (6) applies, the amount determined by virtue of that subsection.
(2)The amount of a standard loan is the approved expense (unless section 88(1)(b) applies).
(3)The amount of a subsidised loan is the approved expense which is divided into two elements—
(a)an interest free element, and
(b)a repayment element.
(4)The amount of the interest free element is the greater of—
(a)the approved expense less the applicant's contribution (if any), or
(b)where subsection (6) applies, the amount determined by virtue of that subsection.
(5)The amount of the repayment element is the approved expense less the amount of the interest free element.
(6)In such cases as the Scottish Ministers may specify in regulations, the amount for the purposes of subsection (1)(b) and (4)(b) is such percentage of the approved expense as may be so specified or such other percentage as a local authority may, with the consent of the Scottish Ministers, determine.
(7)Where the amount of a grant or of the interest free element of a subsidised loan is determined by virtue of subsection (6), the grant or subsidised loan is referred to in this Part as a “minimum percentage” grant or loan.
Commencement Information
I1S. 79 in force at 29.9.2008 for specified purposes by S.S.I. 2008/308, art. 3
I2S. 79 in force at 1.4.2009 in so far as not already in force by S.S.I. 2009/122, art. 3