(1) In this section -
''academic year'' means, in relation to an approved course, a year of study commencing on a date not earlier than 1 August in a year of assessment;
''appropriate percentage'' means, in relation to a year of assessment, a percentage equal to the standard rate of tax for that year;
''approved college'' means, in relation to a year of assessment, a college or institution in the State that -
(a) provides courses to which a scheme approved by the Minister under the Local Authorities (Higher Education) Grants Acts, 1968 to 1992, applies, or
(b) operates in accordance with a code of standards which from time to time may, with the consent of the Minister for Finance, be laid down by the Minister,
and which the Minister approves for the purposes of this section:
''approved course'' means -
(a) a postgraduate course of study leading to a postgraduate award, based on a thesis or on the results of an examination, in an approved college -