(1)This section applies to the following universities and colleges, that is to say—
(a)the universities to which the Universities and College Estates Act 1925 (in this Act referred to as " the Act of 1925 ") applies, and
(b)all colleges in those universities.
(2)In relation to universities and colleges to which this section applies, the Act of 1925 shall have effect subject to the exceptions and modifications specified in Part I of Schedule 1 to this Act (being exceptions and modifications for removing restrictions on the powers of those universities and colleges).