The Public Works Loans (Fees) (Amendment) Regulations 1992

• Citation: S.I. 1992/1566
• Sections: 3

Section 1 Citation, commencement and interpretation

These Regulations may be cited as the Public Works Loans (Fees) (Amendment) Regulations 1992 and shall come into force on 22nd July 1992.

Section 2 Citation, commencement and interpretation

In these Regulations a reference to the principal Regulations is a reference to the Public Works Loans (Fees) Regulations 1991 .

Section 3 Amendment of regulation 3 of the principal Regulations

The principal Regulations shall be amended:

(a) by the insertion of the words “save where paragraph (2) or (2A) below applies,” at the beginning of regulation 3(1)(a);

(b) by the substitution in regulation 3(1)(a)(i) of the word “or” for the word “and”;

(c) by the insertion of the following new paragraph after regulation 3(2)—

(2A) In respect of any advance made by the Commissioners—

(a) which is secured solely on the revenues of the borrower,

(b) on which a variable rate of interest is payable, and

(c) which the Commissioners require to be taken on the premature repayment of a loan on which a fixed rate of interest is payable,

the fee payable shall be £70.