(1)Regulations may make provision—
(a)for any function which is or may be conferred under or by virtue of a relevant enactment—
(i)to transfer to, or otherwise be exercisable by, the designated person or body, or
(ii)to be replaced by such function exercisable by the designated person or body as is specified in the regulations,
to such extent as is so specified;
(b)for any function exercisable by the designated person or body by virtue of paragraph (a)(i) to be exercisable in such modified form as is so specified;
(c)for the transfer to the designated person or body of rights or liabilities arising under or by virtue of any relevant enactment;
(d)for any such enactment to have effect with such modifications as are so specified;
(e)imposing on persons or bodies of any description so specified requirements with respect to the transfer and preservation of records.
(2)In this section “the designated person or body” means the Secretary of State or such other person or body as may be designated for the purpose by regulations under this section.
(3)In this section “relevant enactment” means any enactment contained in—
(a)the M1Education Act 1962,
(b)section 3 of the M2Education Act 1973, or
(c)the M3Education (Student Loans) Act 1990,
so far as that enactment continues in force by virtue of any savings made, in connection with its repeal by this Act, by an order under section 46(4).
(4)The Secretary of State shall, not later than six months after the passing of this Act, appoint an independent body to review the arrangements for England and Wales relating to the payment of grants in respect of fees payable in connection with attendance on the final honours year of first degree courses at higher education institutions in Scotland.
(5)The Secretary of State shall invite—
(a)the Scottish higher education principals,
(b)the Committee of Vice-Chancellors and Principals, and
(c)such other bodies as he considers appropriate,
to make representations to the body established under subsection (4); and the report of that body shall be laid before each House of Parliament not later than 1st April 2000.
(6)If that body recommends that the arrangements referred to in subsection (4) should be modified in accordance with this subsection, the Secretary of State may modify those arrangements so as to secure that they are no less favourable than the arrangements made by regulations under section 73(f) of the M4Education (Scotland) Act 1980 for the payment of allowances in respect of fees payable as mentioned in subsection (4).
(7)In subsections (4) and (6) any reference to the arrangements for England and Wales is a reference to arrangements made either under the Education Act 1962 or under section 22 of this Act.