Statutory Instruments
2004 No. 440
SOCIAL SECURITY
The Income Support (General) (Standard Interest Rate Amendment) Regulations 2004
Made
23rd February 2004
Laid before Parliament
27th February 2004
Coming into force
21st March 2004
The Secretary of State for Work and Pensions, in exercise of the powers conferred upon him by sections 123(1)(a), 135(1), 137(1) and 175(1) and (3) to (5) of the Social Security Contributions and Benefits Act 1992( 1 ), and of all other powers enabling him in that behalf, after agreement by the Social Security Advisory Committee that proposals in respect of these Regulations should not be referred to it( 2 ), hereby makes the following Regulations:
Citation, commencement and interpretation
1. —(1) These Regulations shall be cited as the Income Support (General) (Standard Interest Rate Amendment) Regulations 2004 and shall come into force on 21st March 2004.
(2) In these Regulations, “the Decisions and Appeals Regulations” means the Social Security and Child Support (Decisions and Appeals) Regulations 1999( 3 ) and “the Income Support Regulations” means the Income Support (General) Regulations 1987( 4 ).
(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( 5 ) (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 28th March 2004; or
(ii) if the claim for income support is for a period commencing after 28th March 2004, from the first day of the first benefit week commencing after 21st March 2004;
(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 28th March 2004,
and for this purpose, the expressions “claimant” and “benefit week” have the same meanings as in regulation 2(1) of the Income Support Regulations( 6 ) (interpretation).
Amendment of Schedule 3 to the Income Support Regulations
2. In paragraph 12(1)(a) of Schedule 3 to the Income Support Regulations( 7 ) (standard rate of interest on qualifying loans), for the words “5.07 per cent.” there shall be substituted the words “5.33 per cent.”.
Revocation and saving of the Income Support (General) (Standard Interest Rate Amendment) Regulations 2003
3.The Income Support (General) (Standard Interest Rate Amendment) Regulations 2003( 8 ) 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.
Signed by authority of the Secretary of State for Work and Pensions.
Chris Pond
Parliamentary Under-Secretary of State,
Department for Work and Pensions
23rd February 2004
1992 c. 4 ; section 137(1) is an interpretation provision and is cited because of the meaning ascribed to the word “prescribed”.
See section 173(1)(b) of the Social Security Administration Act 1992 (c. 5) .
S.I. 1999/991 .
S.I. 1987/1967 .
Schedule 3A was inserted by S.I. 2000/1596 .
The definition of “benefit week” was amended by S.I. 1988/1445 .
Schedule 3 is substituted by S.I. 1995/1613 ; the relevant amending instrument is S.I. 2003/2693 .
S.I. 2003/2693 .