Sch 8, s 10
CurrentInterest rates
10 Interest rates
(1)
The interest charged on a loan given under the scheme must be calculated at a concessional interest rate decided by the authority.
(2)
However, the authority may—
(a)
review an applicant’s financial situation annually to decide whether or not to increase the interest rate charged for the loan; and
(b)
if the authority considers the applicant’s financial situation has improved, increase the interest rate to a rate not more than a commercial rate of interest.
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