209Grants in respect of mandatory awards
(1)For each financial year beginning after the day on which this subsection comes into force the Secretary of State shall pay to each local education authority a grant equal to the aggregate amount paid in that year by the authority under section 1(1) of the [1962 c. 12.] Education Act 1962 (awards for persons attending first degree courses and comparable courses).
(2)Payments of grants under subsection (1) above shall be made at such times as the Secretary of State may, with the consent of the Treasury, determine.