20(1)Section 24 (condition to be imposed by English funding bodies) is amended as follows.
(2)In subsection (3)—
(a)in paragraph (a)(ii), for the words from “of other” to “section 23” substitute “(where the funding body is the Higher Education Funding Council for England) of other financial requirements determined by the Council in accordance with principles specified by the Secretary of State in the condition under section 23(2)”;
(b)in paragraph (b), for the words from “financial requirements” to “section 23” substitute “—
(i)where the funding body is the Higher Education Funding Council for England, financial requirements determined by the Council in accordance with principles specified by the Secretary of State in the condition under section 23(2);
(ii)where the funding body is the Secretary of State, such financial requirements as the Secretary of State thinks appropriate”;
(3)In subsection (4)(c), for “78 of the 2005 Act” substitute “14 of the Education Act 2002”.
(4)In subsection (6)—
(a)for the definition of “funding body” substitute—
““funding body” means—
in the case of a grant, loan or other payment made under section 65 of the 1992 Act, the Higher Education Funding Council for England;
in the case of financial assistance given by the Secretary of State under section 14 of the Education Act 2002 to the governing body of a relevant institution, the Secretary of State;”;
(b)in the definition of “the grant period”, for “to which the relevant condition under section 23 relates” substitute “in question”.