In exercising their functions under this Part of this Act, F1the HEFCW shall comply with any directions under this section, and such directions shall be contained in an order made by the Secretary of State.

The Secretary of State may give general directions to F2the HEFCW about the exercise of their functions.

If it appears to the Secretary of State that the financial affairs of any institution within the higher education sector have been or are being mismanaged he may, after consulting F3the HEFCW and the institution, give such directions to F3the HEFCW about the provision of financial support in respect of the activities carried on by the institution as he considers are necessary or expedient by reason of the mismanagement.