Trade Support Loans Amendment (Improving Administration) Act 2020 (20 of 2020)

Schedule 1   Amendments

Trade Support Loans Act 2014

6   At the end of section 11

Add:

(3) If:

(a) an amount paid to a person is taken under subsection (1) to have been an instalment of a trade support loan in relation to an instalment period; and

(b) an instalment of a trade support loan (a later instalment ) is payable (or would apart from this subsection be payable) to the person in relation to a later instalment period;

the Secretary may determine that the amount of the later instalment is to be reduced (including reduced to nil). However, the sum of all such reductions connected with the amount mentioned in paragraph (a) must not exceed that amount.

(4) The rules may prescribe circumstances in which the Secretary is to determine under subsection (3) that amounts of later instalments are to be reduced.