Insertion of regulation 75A (how to calculate applicable threshold)E+W
This section has no associated Explanatory Memorandum
60. After regulation 75 (repayment by income-related instalments) insert—
“How to calculate applicable threshold
75A. The applicable threshold is, in relation to a borrower’s loan, the amount—
(a)rounded up to the nearest £5 (if necessary), and
(b)being the product of—
(i)the repayment threshold for the loan, and
(ii)the country-specific multiplier for the borrower’s country of residence.”.