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24.—(1) The amount, if any, of the school travel grant for a school year payable in the case of an aided pupil shall be determined as follows by reference to the school travel expenditure for that year in relation to which it is paid and the relevant income as respects the pupil–
(a)where the relevant income does not exceed £11,129, the school travel grant shall be of an amount equal to that of the school travel expenditure to which it relates;
(b)in any other case, the school travel grant shall be of the amount, if any, by which the school travel expenditure to which it relates exceeds an amount (rounded down to the nearest multiple of £3) equal to one twelfth of that part of the relevant income which exceeds £10,950.
(2) The school may, in the course of, or immediately before, a school year, make payments on account of the grant which it appears to it will be payable for that year but, where payments on account are made, within three months of the final determination of the amount (if any) of the grant, any overpayment or underpayment of grant for the year in question shall be adjusted by payments between the parents and the school.
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