21(1)In section 2(2) of that Act (power of LEAs to lend money for those purposes) for paragraphs (a) to (d) there is substituted—
“(a)to a higher education corporation or further education corporation (within the meaning of the Further and Higher Education Act 1992);
(b)in the case of the following institutions—
(i)an institution within the higher education sector which is not conducted by a higher education corporation;
(ii)an institution within the further education sector which is not conducted by a further education corporation; or
(iii)an institution which provides higher education or further education and is assisted by a local education authority,
to the governing body of the institution or, if it is conducted by a company, to the company; or
(c)to a body corporate in which such a corporation or company as is mentioned in paragraph (a) or (b) above has a holding such as is mentioned in subsection (8) below”.
(2)In subsection (8) of that section for “(2)(d)” there is substituted “(2)(c)”.