Section 38 of the Principal Act is amended -

(a)

(i) in subsection (1), by the substitution of the following paragraph for paragraph (a):

"(a) the interest on a loan shall not at any time exceed the rate, specified in the order made under subsection (3) applicable to -

(i) the credit agreement under which the loan is made, or

(ii) where there is no credit agreement, the loan;",

and

(ii) by deletion of paragraphs (b) and (c),

(b) by the insertion of the following subsections after subsection (2):

"(3) The Minister may, after consultation with the Advisory Committee and such other body as the Minister considers appropriate in the circumstances, by order specify a rate of interest for the purpose of subsection (1)(a).

(4) An order made under subsection (3) shall apply to a credit agreement entered into, or, where there is no credit agreement, a loan made -

(a) after the date on which the order comes into operation, and