Amendment of regulation 2

3.—(1) Amend regulation 2 (interpretation)(1) as follows.

(2) In paragraph (1)—

(a) in sub-paragraph (a) of the definition of “operative date” for “eleventh” substitute “twelfth”,

(b) in sub-paragraph (a) of the definition of “reference date” omit “second”.

(3) For paragraph (2) substitute—

“(2) In these Regulations the reference rate found on a reference date is the official bank rate determined by the most recent meeting of the Monetary Policy Committee of the Bank of England.”.

(1)

Regulation 2 was amended by S.I. 1998/3176 and 2008/3234.