The Income Support (General) (Standard Interest Rate Amendment) Regulations 2003

• Citation: S.I. 2003/2693
• Sections: 3

Section 1 Citation, commencement and interpretation

(1) These Regulations shall be cited as the Income Support (General) (Standard Interest Rate Amendment) Regulations 2003 and shall come into force on 16th November 2003.

(2) In these Regulations, “the Decisions and Appeals Regulations ” means the Social Security and Child Support (Decisions and Appeals) Regulations 1999 and “the Income Support Regulations ” means the Income Support (General) Regulations 1987 .

(3) These Regulations shall have effect in relation to any particular claimant—

(a) in a case where income support is paid to the claimant in arrears, in accordance with paragraph 1(a) of Schedule 3A to the Decisions and Appeals Regulations (date on which change of circumstances takes effect in certain cases where a claimant is in receipt of income support)—

(i) from the first day of the benefit week which includes 23rd November 2003; or

(ii) if the claim for income support is for a period commencing after 23rd November 2003, from the first day of the first benefit week commencing after 16th November 2003;

(b) in a case where income support is paid to the claimant in advance, in accordance with paragraph 1(b) of Schedule 3A to the Decisions and Appeals Regulations from the first day of the first benefit week commencing after 23rd November 2003,

and for this purpose, the expressions “claimant” and “benefit week” have the same meanings as in regulation 2(1) of the Income Support Regulations (interpretation).

Section 2 Amendment of Schedule 3 to the Income Support Regulations

In paragraph 12(1)(a) of Schedule 3 to the Income Support Regulations (standard rate of interest on qualifying loans), for the words “5.34 per cent.” there shall be substituted the words “5.07 per cent.”.

Section 3 Revocation of the Income Support (General) (Standard Interest Rate Amendment) ( No. 2) Regulations 2002

The Income Support (General) (Standard Interest Rate Amendment) (No. 2) Regulations 2002 are hereby revoked save that those Regulations shall continue to have effect until the first day of the benefit week having effect in relation to any particular claimant for the purpose of regulation 1(3) of these Regulations.