18.—(1) Subject to paragraph (2), the board shall make any payment due under these Regulations in such installments (if any) and at such times as it considers appropriate; and in the exercise of its functions under this regulation the board may make provisional payments pending the final calculation of the award.
(2) Subject to paragraphs (3) and (4) the board shall pay such fees as are described in Schedule 5 promptly when a valid request for payment in respect thereof has been received.
(3) Fees described in paragraph (a)(i), (iv), v(i), (vii), (viii), (ix) and (xi) and (c) of Schedule 5 shall be paid during the period of 10 weeks which begins after the expiry of 3 months from the beginning of the year.
(4) Payment of fees described in paragraphs (a)(ii), (iii), (v), (x) and (xii) and (b) of Schedule 5 shall be made in the number of installments, if any, mentioned therein after the first dates on which the student is required to attend his course after 1st January, 1st April, 1st July and 1st September respectively, beginning with a payment after the first date on which he is required to attend after the beginning of the year of the course, and continuing with payments after the next such first dates on which he is required to attend, until all the installments which are payable for the year have been paid.
(5) All payments shall be made to the student, except—
(a)payment of the fees described in Schedule 5 may be made to the academic authority; and
(b)where amounts specified in regulation 12(3) are payable to him on his written instruction payment in respect of his maintenance grant may be made to a third party.
(6) Without prejudice to regulation 20 or the recovery of an overpayment by way of a deduction from a subsequent payment, any overpayment or underpayment made in pursuance of this regulation shall be adjusted by payment between the student or, as the case may be, the academic authority and the board.