Part 1The Office for Students

Funding of the OfS

72Retention of fee related income

1

The OfS must pay its fee income to the Secretary of State except to the extent that the Secretary of State, with the consent of the Treasury, directs otherwise.

2

“Fee income” means the sums received by the OfS by way of—

a

fees charged under section 70 (registration fees) or 71 (other fees), or

b

costs recovered by virtue of regulations made under section 70(2)(f) or 71(2)(g).

3

The OfS must pay its other fee related income to the Secretary of State.

4

“Other fee related income” means the sums received by the OfS by way of—

a

penalties imposed by virtue of regulations made under section 70(2)(g) or 71(2)(h), or

b

interest charged by virtue of regulations made under section 70(2)(i) or 71(2)(j).