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”.