2. Any reference in the Education Acts 1944 to 1992 to the governing body of an institution, in relation to an institution which is—
(a)a designated institution for the purposes of Part I (further education) or Part II (higher education) of the Further and Higher Education Act 1992, and
(b)conducted by a company
shall be read as a reference to the governing body provided for in the instrument of government, except in the case of a reference in a provision listed in—
(i)Schedule 1 to this Order, which shall be read as a reference to the company; or
(ii)Schedule 2 to this Order, which shall be read as a reference to both the governing body provided in the instrument of government and the company.