(1)A reference in loan regulations to the Secretary of State as lender includes a reference to a loan purchaser.
(2)Regulations by virtue of section 22(5)(a)(iii) of the Teaching and Higher Education Act 1998 (c. 30) (loan regulations: repayment) may make provision for the transmission of amounts—
(a)by a specified person (or body) other than a borrower's employer,
(b)to a loan purchaser, and
(c)in accordance with directions given by the Secretary of State.
(3)Regulations by virtue of section 22(5)(f) of that Act (loan regulations: repayment) may enable the Secretary of State to require the reimbursement of costs or expenses incurred by a loan purchaser.
(4)Amendments of loan regulations may have effect in respect of transferred loans.
(5)Subsection (4) includes amendments which have effect in respect of loans made before the amendments are made.
(6)But in amending loan regulations the Secretary of State shall aim to ensure that no borrower whose loan is transferred is in a worse position, as the result of the amendment, than would have been the case had the loan not been transferred.
(7)Subsection (6) also applies to making or amending regulations under section 186 of the Education Act 2002 (c. 32).