Date-stamp loading
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 February 2011 - onwards
  Version 3 of 3    

Regulation 5 Settlement date

(1) The settlement date for calculation of the rebate in regulation 4 shall be taken to be -

(a) where the debtor has given notice under section 94(1) of the Act with a view to discharging his indebtedness under the agreement, the date falling 28 days after the date on which the notice was received by the creditor, or any later date specified as the date of early settlement in the notice, if the debtor pays the amount in question (less any rebate allowable under these Regulations) not later than that date;

(b) the date specified as the date for payment of any sum by the debtor involving early settlement in any notice served under section 76(1) of the Act, any default notice or any notice served under section 98(1), if the debtor pays the amount in question (less any rebate allowable under these Regulations) not later than that date;

(c) in any other case, the date on which the debtor pays any sum involving early settlement.

(2) The settlement date for the calculation of the rebate in r

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