The Education (Student Loans) (Repayment) (Amendment) Regulations (Northern Ireland) 2024

Amendment to regulation 3 (interpretation)N.I.

This section has no associated Explanatory Memorandum

3.  In regulation 3 (interpretation) —

(a)after the definition of “repayment threshold year” insert—

“retail price index” means the RPI All Items Index published by the Office for National Statistics(1);”;

““standard interest rate” means, in relation to a loan, the greater of—

(a)

zero, or

(b)

the percentage increase in the retail price index between the two Marches immediately before the commencement of the academic year in which the loan bears interest;”;

(b)omit the definitions of the following expressions—

“the 2005 Act”;

“the 2007 Act”.

Commencement Information

I1Reg. 3 in operation at 6.4.2024, see reg. 1(2)