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After section 1 of the Education (Student Loans) Act 1990 there shall be inserted—
Paragraph 1 of Schedule 2 to the 1990 Act (public sector student loans: principal, interest and payments) shall be amended as follows.
In paragraph 1(1), for paragraphs (b) and (c) there shall be substituted—
In paragraph 1(3), for “under sub-paragraph (1)(b) above” there shall be substituted “ made in pursuance of sub-paragraph (1)(b)(i) above ”.
For paragraph 1(4) and (5) there shall be substituted—
After paragraph 1(5) (as substituted by subsection (4) above) there shall be inserted—
Where an agreement for a public sector student loan was entered into before the commencement of this section, then as from that time—
the agreement shall have effect as if its terms included the terms prescribed in relation to such an agreement by regulations in force at that time under paragraph 1(1)(b) of Schedule 2 to the 1990 Act as amended by subsection (2) above; and
the prescribed terms shall have effect in accordance with paragraph (a) above in place of any of the existing terms of the agreement that make provision for any of the matters for which provision is made by the prescribed terms.
Paragraph 1(6) of Schedule 2 to the 1990 Act, as inserted by subsection (5) above, accordingly has effect subject to subsection (6) above.
For paragraph 3 of Schedule 2 to the 1990 Act there shall be substituted—
In paragraph 3A of that Schedule (circulars to minors), for the words in sub-paragraph (a) from “such person” to “above;” there shall be substituted “ person with whom arrangements have been made under section 1(1) of this Act; ”.
No person with whom arrangements have been made under section 1(1) of this Act shall provide or make available to anyone else (whether for consideration or not) any information held in connection with public sector student loans if the information is to be used for soliciting custom for goods or services.
Where any arrangements made with an existing lender under section 1(1) of the 1990 Act were in force immediately before the commencement of this section, then until such time as they are replaced by arrangements made in accordance with paragraph 3 of Schedule 2 to the 1990 Act as amended by subsection (1) above—
the arrangements shall continue to have effect as if made in accordance with paragraph 3 of that Schedule as so amended;
existing paragraph 3(2) and (6) shall continue to have effect in relation to the existing lender and any public sector student loans made by him; and
in relation to any time when section 2 above is not in force, existing paragraph 3(4) shall also continue so to have effect.
For the purposes of subsection (4)—
“existing lender” means a person or body falling within existing paragraph 3(1); and
any reference to an “existing” provision is a reference to that provision of Schedule 2 to the 1990 Act as in force immediately before the commencement of this section.
An Order in Council under paragraph 1(1)(b) of Schedule 1 to the Northern Ireland Act 1974 (legislation for Northern Ireland in the interim period) which contains a statement that it is made only for purposes corresponding to the purposes of this Act—
shall not be subject to paragraph 1(4) and (5) of that Schedule (affirmative resolution of both Houses of Parliament); but
shall be subject to annulment in pursuance of a resolution of either House of Parliament.
There shall be paid out of money provided by Parliament any increase attributable to this Act—
in the sums required by the Secretary of State for making payments under the 1990 Act;
in the expenses of the Secretary of State under that Act.
In section 578 of the Education Act 1996 (meaning of “the Education Acts”), at the appropriate place there shall be inserted— “ the Education (Student Loans) Act 1998 ”.
The enactments specified in the Schedule to this Act are repealed to the extent specified.
This Act may be cited as the Education (Student Loans) Act 1998.
This Act shall be included in the list of Education Acts set out in section 578 of the Education Act 1996.
In this Act “the 1990 Act” means the Education (Student Loans) Act 1990.
The following provisions of this Act, namely— sections 2 and 3, and section 6(2) and the Schedule, shall not come into force until such day as the Secretary of State may appoint by order made by statutory instrument, and different days may be so appointed for different provisions.
Apart from section 4 and this section, this Act does not extend to Northern Ireland.
Section 6(2). Chapter Short title Extent of repeal 1996 c. 9. Education (Student Loans) Act 1996. In the Schedule, in paragraph 3, sub-paragraphs (4) and (6)(a).
Section 6(2). Chapter Short title Extent of repeal 1996 c. 9. Education (Student Loans) Act 1996. In the Schedule, in paragraph 3, sub-paragraphs (4) and (6)(a).