9Joint exercise of functions
(1)A funding agency and any other relevant funding body may exercise any of their functions jointly where it appears to them that to do so—
(a)will be more efficient, or
(b)will enable them more effectively to discharge any of their functions.
(2)In subsection (1) “other relevant funding body” means the other funding agency, the Higher Education Funding Council for England, a further education funding council or a funding authority for schools.