Repayments by overseas borrowers: new fixed instalment rate for plan 1 loans 4
1
The 2009 Regulations are amended as follows.
2
For regulation 74(3)11 (fixed instalment rate), substitute—
3
The fixed instalment rate for a plan 1, 2, 3 or 5 loan is calculated in accordance with regulation 74A.
3
In regulation 74A12 (how to calculate fixed instalment rate)—
a
in paragraph (1) for “plan 2” substitute “plan 1, 2”
;
b
in paragraph (2) for “plan 2” substitute “plan 1, 2”
;
c
after paragraph (3), in the Example, for “applicable to plan 2” substitute “applicable to plan 1, 2”
.