Calculation of … grant
18.—(1) The sum mentioned in paragraph 17(1)(b), (2)(b) or (c) shall be the amount by which the student’s resources fall short of his requirements and for the purposes of ascertaining that amount—
(a)the requirements of the student shall be taken to be the aggregate of—
(i)where the award is an old award and a full award the amounts specified in Parts I to IV of Schedule 2 as are applicable in his case; or
(ii)where the award is a transitional award and a fees only award the amounts specified in Part V of Schedule 2 as are applicable in his case; or
(iii)where the award is a transitional award and a full award the amounts specified in Parts I to V of Schedule 2 as are applicable in his case; and
(b)the resources of the student shall be taken to be the aggregate of his income for the year calculated in accordance with Part I of Schedule 3 and any contribution applicable in his case by virtue of Part II or III of that Schedule.
(2) This regulation and Schedules 2 and 3 shall have effect—
(a)in the case of such a student as is mentioned in Schedule 4, subject to the provisions thereof; and
(b)where regulation 20 applies, subject as therein provided.
(3) In the case of a transitional award where any such fees as are described in paragraph (a)(iv), (vi), (vii) and (ix) of Schedule 1 are payable the student’s resources shall be reduced by the amount they exceed £500, such reduction not to exceed £500.