Regulation 41 Relationship with amounts to be disregarded under Schedule 3I1

No part of a student’s covenant income or grant income shall be disregarded under paragraph 13 of Schedule 3 and any other income shall be disregarded thereunder only if, and to the extent that, the amount disregarded under regulation 39(2)(b) (calculation of covenant income where a contribution is assessed) or, as the case may be, 40(1)(e) (covenant income where no grant income or no contribution is assessed) is less than £5.