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14. In regulation 43(3) (calculation of covenant income where a contribution is assessed) for the words from “regulation 42(2)(f)” to the end there shall be substituted the following words—
“regulation 42(2)(f) (calculation of grant income) falls short of the amount specified in paragraph 7(4)(i) of Schedule 2 to the Education (Mandatory Awards) Regulations 1991 (travel expenditure).”.
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