Grants to relevant institutions
6.—(1) The Secretary of State may, in respect of any academic year, pay a grant under this regulation to the governing body of a relevant institution.
(2) Grant paid under this regulation shall, subject to paragraphs (3) and (4), be the amount specified in the fifth column of the Table in Schedule 2 in relation to the institution multiplied by the number of award students attending the institution during the academic year in question.
(3) Where an award student attends a relevant institution during part only of an academic year grant paid to the governing body of a relevant institution under this regulation shall (unless a substituted student is selected under regulation 4(1)) be reduced by such amount as the Secretary of State considers appropriate having regard to the length of time during the academic year during which the student attended the institution.
(4) The governing body of any relevant institution to whom grant is paid under this regulation shall—
(a)remit the fees payable in respect of each award student’s attendance on the course to the extent necessary to secure that the amount payable in respect of each academic year by way of such fees is no more than the prescribed amount; and
(b)secure that the fees paid in respect of the audition at which any new award student was selected do not exceed £30 (and accordingly where a fee in excess of that amount was paid repay the difference between the fee paid and £30).