Regulation 134 Relationship with amounts to be disregarded under Schedule 6I1

No part of a student’s covenant income or grant income shall be disregarded under paragraph 15 of Schedule 6 (charitable and voluntary payments) and any other income to which sub-paragraph (1) of that paragraph applies shall be disregarded only to the extent that the amount disregarded under regulation 132(2)(b) (calculation of covenant income where a contribution is assessed) or, as the case may be, 133(1)(c) (covenant income where no grant income or no contribution is assessed) is less than £20.