11 Amendment of regulation 39 of the General Regulations
In regulation 39 of the General Regulations (calculation of covenant income where a contribution is assessed) in paragraph (3), for the words from “regulation 38(2)(g)” to the end there shall be substituted the following words—

““regulation 38(2)(g) (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).”.”