(1) In this section -
"academic year", in relation to an approved course, means a year of study commencing on a date not earlier than the 1st day of August in a year of assessment;
"approved college", in relation to a year of assessment, means -
(a) an institution which provides courses to which a scheme approved by the Minister under the Local Authorities (Higher Education Grants) Acts, 1968 to 1992, applies, or
(b) a college approved of by the Minister for the purposes of section 6 of the Finance Act, 1995;
"approved course" means a part-time undergraduate course of study in an approved college which -
(a) is of at least 2 academic years duration, and
(b) in the case of a course provided by a college to which paragraph (b) of the definition of approved college relates, the Minister, having regard to a code of standards which, from time to time, may, with the consent of the Minister for Finance, be laid down by the Minister in relation to the quality of education to be offered on