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(1)The Secretary of State may by regulations make provision for the making by him out of moneys provided by Parliament of loans to persons other than local education authorities for the purpose of helping them to meet capital expenditure incurred or to be incurred by them or on their behalf in connection with the provision, replacement, extension, improvement, furnishing or equipment of colleges for the training of teachers.
(2)Any loan made to any persons in pursuance of regulations under this section shall be made on such terms and conditions as may be specified in an agreement made between the Secretary of State and those persons with the consent of the Treasury.
(3)Regulations under this section may make the making of loans dependent on the fulfilment of such conditions as may be determined by or in accordance with the regulations, and may also make provision for requiring persons to whom loans have been made in pursuance of the regulations to comply with such requirements as may be so determined.
[F1(3A)Regulations under this section may make in relation to Wales provision different from that made in relation to England.]
(4)Regulations under this section shall be made by statutory instrument, which shall be subject to annulment in pursuance of a resolution of either House of Parliament.
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