Regulation 17 Payments
Subject to regulations 16, 20, 21, 22, 23, 25 and 26, the authority shall in respect of each year pay in pursuance of an award—
in respect of fees, a sum equal to the aggregate of any such fees payable in respect of the student as are described in Schedule 1, less—
the amount if any by which the student’s resources exceed his requirements for the purposes of regulation 18(1) (whether or not a maintenance grant is calculated under sub-paragraph (b)), or
the amount of any income referred to in paragraph 1(1)(b) of Schedule 3 which is not disregarded under that paragraph,
whichever is the less;
where the award is a full award, in respect of maintenance a sum calculated in accordance with regulation 18.
The aggregate of any sums paid in respect of maintenance shall be called the “maintenance grant”, and so much of the maintenance grant as appears to the authority to be appropriate shall be treated as being in respect of the Easter and Christmas vacations.