(1)In exercising their functions in relation to the provision of financial support for qualifying activities the funding agencies shall have regard to the desirability of—
(a)establishing and maintaining in relation to courses for initial training of school teachers an appropriate balance between school-centred courses and other courses; and
(b)not discouraging any institution for whose activities financial support is provided under this Part from maintaining or developing its funding from other sources.
(2)For the purposes of subsection (1)(a) a “school-centred course” means a course provided by a school or schools, or by a partnership or association consisting wholly or mainly of schools or by a body established by a school or institutions consisting wholly or mainly of schools.
(3)Before exercising their discretion under section 5(1)(a) or (b) with respect to the terms and conditions to be imposed in relation to any grants, loans or other payments, a funding agency shall consult such of the following bodies as appear to them to be appropriate to consult in the circumstances—
(a)such bodies representing the interests of eligible institutions as appear to the funding agency to be concerned, and
(b)the governing body of any particular eligible institution which appears to the funding agency to be concerned.
(4)In exercising their functions in relation to the provision of financial support for qualifying activities a funding agency shall have regard (so far as they think it appropriate to do so in the light of any other relevant considerations) to the desirability of maintaining—
(a)what appears to them to be an appropriate balance in the support given by them as between institutions which are of a denominational character and other institutions, and
(b)any distinctive characteristics of any eligible institution for whose activities financial support is provided under this Part.
(5)In exercising their functions a funding agency shall take such steps as appear to them appropriate to secure that the governing body of any institution which provides a course of initial teacher training funded by the agency makes available such information relating to the course, in such manner and to such persons, as the agency may require.