Section 1: Abolition of the graduate endowment
7.Subsection (1) repeals sections 1 and 2 of the 2001 Act (and revokes the principal regulations). No student will become a liable graduate after the coming into force of this section (as the repeals completely remove the graduate endowment for the future). Sections 2 and 3 of the Act make provision for students who have become liable graduates up to the coming into force of this section.
8.Subsection (2) makes a consequential repeal of paragraph 10 of schedule 3 to the Further and Higher Education (Scotland) Act 2005 (“the 2005 Act”), which made an amendment to section 1 of the 2001 Act in consequence of the 2005 Act. That amendment is spent by virtue of the repeal of section 1 of the 2001 Act.