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