Regulation 7 Amendments to the Regulations

(1)

Regulation 23 shall be amended as follows.

(2)

In the first line of paragraph (1) for “loans” substitute “loan”.

(3)

For paragraph (2) substitute—

“(2)

Subject to paragraph (3), where the contribution exceeds the maximum amount of grant referred to in paragraph (1)(a) that maximum amount shall be reduced to nil, and the excess of the contribution shall be available—

(a)

first, to reduce or extinguish the maximum amount of grants referred to in paragraph (1)(b), if any;

(b)

second, to reduce or extinguish the maximum amount of loan referred to in paragraph (1)(c), if any; and

(c)

third, to reduce or extinguish the maximum amount of grant referred to in paragraph (1)(d), if any.”.

(4)

In the first line after paragraph (3)(b) for “amount of grant referred to in paragraph (1)(b)” substitute “amounts of grant or loan referred to in paragraph (1)”.

(5)

In paragraphs (5)(b)(i)(b) and (c) and (6)(b)(i)(b) and (c) omit “in aggregate” before “in the academic year” and after “half the time” insert “in aggregate of any quarter”.

(6)

In paragraph (7) for “the Secretary of State determines that” substitute “or (6A)”.

(7)

In paragraph (8) omit “which the Secretary of State has determined shall be”.