(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;
"appropriate percentage", in relation to a year of assessment, means a percentage equal to the standard rate of tax for that year;
"approved college" means a college in the State -
(a) which 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
(b) which the Minister approves of for the purposes of this section;
"approved course" means a full-time undergraduate course of study in an approved college which -
(a) is of at least 2 academic years' duration, and
(b) 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 approved courses, approves of for