Loan ceases to comply with repayment termsU.K.
8(1)If at any time after a loan is made—U.K.
(a)there is an alteration in the repayment terms, and
(b)as a result the repayment terms cease to comply with one or more paragraphs of section 179(2) (authorised repayment terms),
there is an unauthorised payment of an amount equal to the larger of such of amounts A, B, and C (see paragraphs 14 to 16) as arise when that paragraph or those paragraphs are not complied with.
Commencement Information
I1Ss. 160-274, 281, Schs. 30-35 in force at 6.4.2006 but any power to make an order or regulations under those provisions may be exercised at any time after Royal Assent, see s. 284