The Income Support (General) (Standard Interest Rate Amendment) Regulations (Northern Ireland) 2003
These Regulations amend Schedule 3 to the Income Support (General) Regulations (Northern Ireland) 1987, as substituted and amended, with respect to the standard rate of interest applicable to a loan which qualifies for income support under that Schedule to those Regulations. The rate is decreased from 5.34 per cent. to 5.07 per cent. (regulation 2). The Regulations also revoke, with a saving provision, the Income Support (General) (Standard Interest Rate Amendment No. 2) Regulations (Northern Ireland) 2002 which made a previous amendment to the standard rate of interest (regulation 3).